By Dipo Olowookere
Commissioner for Finance in Kwara State, Mr Demola Banu, has disclosed that the federal allocation received by the state for the month of July 2017 increased by N1.2 billion when compared with the month of June 2017.
In a statement issued in Ilorin, the state capital on Tuesday, the Commissioner said Kwara State got N3,669,988,263.89 as its share of the federal allocation for the month of July in contrast to N2,484,424,334.43 received last month.
According to Mr Banu, the the sum was made up of statutory allocation of N2,892,563,436.42 and Value Added Tax (VAT) of N777,424,827.47.
The Commissioner further revealed that the 16 local governments (LGs) in the state got a total of N2,600,159,007.12 as allocation for July, against the N1,821,214,308.6 they received last month.
A breakdown of the allocation figures, Mr Banu said, shows that the LGs got a statutory allocation of N2,158,751,253.97 and Value Added Tax (VAT) of N441,407,753.15.
