Kwara Releases Details of July Allocation

Kwara state

The Kwara State government has released its federal allocation figures for the month of July, 2016.
According to a statement issued on Friday by the State Commissioner for Finance, Alhaji Demola Banu, the State government received a total sum of N3, 117, 634, 155.58 from the federation account as allocation for July.

Giving a breakdown, Alhaji Banu disclosed that the State government got a statutory revenue allocation (SRA) of N1, 964, 362, 872.63; VAT of N621, 720, 038.40; Exchange Difference of N473, 821. 529.00; and proceeds from solid minerals, N57, 729, 715.55, totaling N3, 117, 634, 155.58.

While giving details of the federal allocation received by the 16 local government councils in the State, the Finance Commissioner said that the LGs got a total of N2, 233, 730, 999.61 as July allocation.

Figures released by him shows that the LGs received a statutory allocation of N1, 532, 966, 930.89; VAT of N352, 531, 877.20; exchange difference of N312, 517, 416.19; and proceeds from solid minerals, N35, 714, 775.33, making a total of N2, 233, 730, 999.61.

While stressing that the details of allocation to each local government council will be made public after the Joint Accounts Allocation Committee (JAAC) meeting next week, Alhaji Banu expressed optimism that with this month’s increased allocation, local government councils should be able to meet more of their contractual obligations.