KWSG RELEASES AUGUST ALLOCATION FIGURES
Friday, August 26th, 2016
The Kwara State government has released federal
allocation figures for the month of August, 2016.
According to figures released on Friday by the
Commissioner for Finance, Alhaji Demola Banu, the State government got a total
of N2, 415, 287, 063.9 as allocation for August, against the N3, 117, 634,
155.58 received in July.
The August federal allocation dropped by N702, 347, 091.68, reflecting a 29.1 percent
reduction from the amount the government received last month.
Giving a breakdown of the allocation, Alhaji Banu
disclosed that the State government got a statutory revenue allocation of N1,
178, 605, 835.37; Value Added Tax (VAT) of N621, 470, 471.83; exchange gain
difference of N606, 597, 553.77 and excess bank charges of N8, 613, 202.96,
totaling N2, 415, 287, 063.9.
He lamented the drop in the August allocation saying
that it is lower than the average N3.4billion the state government used to
receive in the past. Banu also noted that the government spends about
N2.4billion on monthly workers’ salaries, pensions and overheads alone. Read more
Comments