Kwara, 16 LG Councils Get N6.4bn January Allocation

By Dipo Olowookere

A total of N6.4 billion has been disbursed to the Kwara State government and the 16 local government areas of the North Central state of Nigeria.

The amount was shared to the two tiers of government from the federation account for the month of January 2020.

According to a statement issued on Saturday by the Commissioner for Finance in Kwara State, Ms Olasumbo Florence Oyeyemi, while the state government received the sum of N3.7 billion, the local councils got N2.7 billion

She said the N3.7 billion shared to the state government excludes N610.8 million deductions for budget support, SME, and other loans by the federal government.

However, the statement noted that the amount comprises N2.6 billion statutory revenue allocation (SRA) net; N1.0 billion Value Added Tax (VAT); and N6.6 million exchange gain.

The Finance Commissioner also stated in the statement that the total inflow of N2.7 billion for the 16 local government areas comprises N2.1 billion (SRA); N586.5 million (VAT); and N4.3 million exchange gains.