March allocation: Kwara gets N3.2bn from FG

March allocation: Kwara gets N3.2bn from FG

The Kwara Government has confirmed received of N3.280 billion from the Federal Government as its March statutory allocation.

Mr Daibu Abubakar, the Press Secretary, Ministry of Finance and Planning, said this in a statement on Saturday in Ilorin.

He said the breakdown of the allocation figures comprises: Statutory Revenue Allocation (SRA) of N1,780,906,717:37 (net); Value Added Tax (VAT) of N1,450,601,517:80; Forex Equalisation Fund of N45,905,022:05; Excess Bank Charges of N3,157,916:33 and total deductions of N350,066,963:71.

READ  280 killed in Ogun road crashes

He however explained that the total inflow for the month of March was lower than that of February, which was N3,579,792,341:91, the statement added.

“The deduction in the allocation also affected the 16 local government areas, as they got a total inflow of N2,003,444,477:39, as against the total inflow of N2,419,090,836:31 received in February.

“The breakdowns of the allocation to the 16 LGAs are: SRA of N1,151,585,239:24 (net); VAT of N819,571,407:14, Forex Equalisation Fund of N30,209,637.68, and Excess Bank Charges of N2,078,193:3.

READ  Okorocha Asks Court To Abort Plot To Arrest Him, Fingers APC Leaders

“There is also a total deductions of N253,936,350:68, inclusive of two months’ deductions, for equipping healthcare centres at Local Government Areas.

“With the LGAs having exhausted their savings to augment salary, as allocations continued to drop in the past months, they now require a support of N110,721,693:89 from the state government.

“This is to enable them to pay 100 per cent salary at N30,000 minimum wage (for GL01-08), alongside their other first line charges for the month of March,” the statement read in part. (NAN)

Recommended For You

1 Comment

Leave a Reply