Kwara Govt Releases Details of March Federal Allocation

Date: 2017-03-22

The Kwara State Government has released federal allocation figures for the month of March, 2017.

According to figures released on Tuesday by the State Commissioner for Finance, Alhaji Demola Banu, the State government got a total of N2, 232, 502, 869.30 as allocation for March, against the N2, 510, 848, 023.62 it received in February.

The March allocation dropped by N278, 345, 154.32 from the amount the government received last month.

A breakdown of the allocation shows that the State government got a statutory allocation of N1, 027, 054, 505.03, Value Added Tax (VAT) of N650, 180, 324.70, Exchange Gain Difference of 222,943,714.99 and Excess Petroleum Profit Tax (PPT) of N332, 324, 324.62, which gives a total of N2, 232, 502, 869.30.

Banu also disclosed that the 16 local government councils in the State received a total of N1,658, 539, 286.80 as allocation for March, against the N1, 837, 925, 388.19, they received in February. The LGs' March allocation decreased by N179, 386, 101.39 from the February allocation.

Giving a breakdown of the allocation, Alhaji Banu said that the councils got a statutory allocation of N923, 374, 901.19, Value Added Tax (VAT) of N368,927,474.85, Exchange Gain Difference of N147, 046, 492.19 and excess Petroleum Profit Tax (PPT) of N219,190,418.56, totaling N1,658,539,286.80.

The Commissioner, however, noted that the councils require a total of N2, 080, 531, 810.86 to meet their monthly salary and pension obligations. According to him, the sum of N579, 970, 740.32 is needed monthly to pay salaries of LG employees, N1, 144, 635, 821.02 for SUBEB staff while the sum of N355, 925, 249.52 is required to pay LG pensioners every month.

He added that the State government on its part, spends about N2.4billion monthly on its workers’ salaries, pensions and overheads.

Click to add/read Comments


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Arca Santa     Rueben Parejo     Code Of Conduct Bureau     Okedare     Ganmo     Oke-Ode     Okasanmi Ajayi     Ayodele Olaosebikan     Issa Oloruntogun     Modibo Kawu     Amusa Bello     National Association Of Nigerian Students     Amoyo     Ayeni     V.O. Abioye     Akume     Suleiman Idris     Www.Kwarareports.com     Ishaq Salman     Abdulrazak Shehu Akorede     Kwara Pdp     Oyun     Muhammadu Buhari     A.G.F Abdulrasaq     Sheriff Shagaya     Kwara     KWASAA     Gabriel Fashanu     Adamu B. Yaqubu     Presidential Election     Post-utme     Ajasse-Ipo     Ola Falade     Kwara 2019     Bamikole Omishore     Tayo Alao     Ezekiel Yissa Benjamin     Bolaji Abdullahi     Alanamu     Abdulkarim Adisa     Valsolar Consortium     Tunji Arosanyin     Apaokagi     Oluwole Dupe     Abubakar Olusola Saraki     Femtech     Mogaji Aare     JAMB     2017 Budget     Mahmud Ajeigbe     Bilikis Oladimeji     Kayode Oyin-Zubair     Ilorin Central Mosque     Yahaya Abdulkareem     Local Government Pension Board     College Of Education     Mohammed Kamaludeen     Moro     Yusuf Ali     Patigi Regatta     International Vocational Centre     Buari Edun     Transition Implementation Committee     Florence Saraki     Mufutau Olatinwo     Ilorin West     Oke-oyi     QuickWin     Centre For Peace And Strategic Studies     Omoniyi Ayinla     Gbenga Awoyale     Henry Olaosebikan     Abdulrazaq Akorede     Buhari     Ibrahim Kayode Adeyemi     Ajibike Katibi     Kehinde Baale