Federal Allocation: Kwara receives N3.2bn for March

Federal Allocation: Kwara receives N3.2bn for March

Kwara State has received N3,280,571,173:55 as total allocation (inflow) for March, a statement from the Ministry of Finance and Planning has said.

According to Press Secretary,
Ministry of Finance and Planning, Daibu Abubakar, “the breakdown of the allocation figures comprises statutory revenue allocation (SRA) of N1,780,906,717:37 (net); Value Added Tax (VAT) of N1,450,601,517:80; Forex Equalisation Fund of N45,905,022:05; Excess Bank Charges of N3,157,916:33; and total deductions of N350,066,963:71.”

The statement noted that “the total inflow for the month of March is lower than the one for February which was N3,579,792,341:91.

“The dip in the monthly allocation also affected the 16 local government areas as they got a total inflow of N2,003,444,477:39, as against the total inflow of N2,419,090,836:31 received in February.

“The breakdowns of the allocation to the 16 LGAs are SRA of N1,151,585,239:24 (net); VAT of N819,571,407:14; Forex Equalisation Fund of N30,209,637.68; Excess Bank Charges of N2,078,193:33; and total deductions of N253,936,350:68, inclusive of two months’ deductions for equipping healthcare Centres at Local Government areas.”

With the LGAs having exhausted their savings to augment salary as allocations continued to drop in the past months, they now require a support of N110,721,693:89 from the state government to be able to pay 100 percent salary at N30,000 minimum wage (for GL01-08) alongside their other first line charges for the month of March,” the statement noted.

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