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.

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