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FAAC: Kwara to Receive N3.2b as April Allocation as LGs Get N2.4b

Date: 2019-05-01


Kwara State Government has revealed its federal allocation figures for April 2019.

In statement issued in Ilorin on Wednesday, the State Commissioner for Finance, Alhaji Demola Banu said the state government will receive N3,279,896,086.07 as federal allocation for April.

The April allocation, according to Banu, comprises statutory allocation of N1,984,735,503.59, Value Added Tax (VAT) amounting to N865,451,596.07, exchange gain of N3,605,662.04, foreign exchange equalisation of N71,405,769.35, additional NNPC funds amounting to N54,568,854.62 as well as goods and valuable contribution of N300,128,700.40.

Banu said local government councils in the state, on their part, were allocated N2,410,239,130.07.

A breakdown of the figures, according to the Commissioner, shows statutory allocation of N1,636,528,475.17, VAT of N490,288,450.71, foreign exchange equalision of N47,096,945.10, exchange gain of N2,378,178.52, additional NNPC funds of N35,991,858.55 as well as goods and valuables contribution of N197,955,222.02

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