By Modupe Gbadeyanka
The sum of N5.7 billion has been disbursed to Kwara State government and the 16 local government areas in the state. The amount, according to the Commissioner for Finance in the state, Mr Demola Banu, is for allocation for the month of April 2019.
Mr Banu, in a statement on Wednesday, stated further that the money was from the federal allocation.
He said from the amount, the state government will receive N3.3 billion, while the local government councils will take N2.4 billion.
The Commissioner said the state government’s allocation 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.
In addition, Mr Banu said a breakdown of the local government figures 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.
