FAAC: Kogi receives 4.2bn for January 2021

Governor Bello of Kogi State

Richard Elesho/ Lokoja

Kogi State Government has confirmed the receipt of N4.4 billion as statutory allocation for the month of September 2020 from the federation account.

This was disclosed in a statement by Mukadam Asiwaju Idris, the state Commissioner for Finance, Budget and Economic Planning.

Giving a breakdown of the fund, Idris said the state net statutory allocation for the month is N2,684,553,627.54. The value added tax(VAT) for the month of January is N1,559,967,257.17

Similarly a total of N3,341,618,868.99 accrued to the 21 Local Government Areas in the State.

The Commissioner disclosed that the local government areas received a net statutory allocation of N2,274,409,918.95 for the month. The Value added tax (VAT) is N1,067,208,950.04.

“The above figures summarise the receipt for the month of January for both state and LGAs.

“It is a responsibility placed on us by our quest as an administration to deliver good governance to the people via accountability and openness, which by virtue of the New Direction Ideology, we shall remain committed without reneging,” he said.

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  • For these reports to reflect true transparency, it must provide at the least, a basic framework for resource allocation between recurrent, capital and other projects funded from IGR as well as grants anticipated or received and not the high level report provided above. The way States and the Federal Government is been run lacks rational and best practices. Also, the fact that governors of Nigeria make spending decisions without legislative appropriations means that Nigeria will be in the dark for a prolonged period of time.