​FAAC: KWSG Receives N2.510b, LGs Get N1.837 as February allocation

The Kwara State government received a total of N2, 510, 848, 023.62 from the Federation Account as allocation for the month of February, 2017, against the N1, 882, 645, 016.4 it received in January.

The State Commissioner for Finance, Alhaji Demola Banu disclosed this in a statement on Tuesday.
Giving a breakdown of the allocation figures, Alhaji Banu said the State government got a statutory revenue allocation N1, 212, 914, 749.81, Value Added Tax (VAT) of N696, 946, 056.22, exchange gain difference of N268, 935, 737.24 and excess Petroleum Profit Tax (PPT) of N332, 051, 480.35, totaling N2, 510, 848, 023.62.
The Finance Commissioner also disclosed that the 16 local government councils in the State got a total of N1, 837, 925, 388.19 as allocation for February, against the N1, 425, 131, 334.6 they received last month.
A breakdown of the allocation shows that the LGs received a statutory allocation of N1, 045, 962, 331.10, Value Added Tax (VAT) of N395, 571, 249.40, exchange gain difference of N177, 381, 348.42 and excess Petroleum Profit Tax of N219, 010, 459.27, giving a total of N1, 837, 925, 388.19.