By Dipo Olowookere
A total of N3.036 billion was received from the Federation Account for the month of October 2017 by the Kwara State government.
Commissioner for Finance, Mr Demola Banu, who made the disclosure on Tuesday in Ilorin, the state capital, stated that the October allocation recorded a N496.6 million reduction from the N3.533 billion received by the state government last month.
A breakdown of the allocation shows that the government got a statutory allocation of N1,975,327,770.78, Value Added Tax (VAT) of N772,813,180.21 and exchange difference of N288, 554,014.13.
Details of the October allocation to the 16 local government councils in the state show that they got a total of N2.184 billion against the N2.508 billion they received in September.
According to the figures released by the Finance Commissioner, the councils received a statutory allocation of N1,555,329,112.84, Value Added Tax of N438,614,308.29 and exchange difference of 190,320,931.85, making a total of N2,184,264,352.98.
