Kwara State has recorded a N500m shortfall this month (August) from the Federation Account just as Governor Abdulfatah Ahmed approves N752m as car loan for LG chairmen and other political office holders in the councils.

The Chairman of the State Joint Account Allocation Committee, who is also the Commissioner for Finance in the state, Alhaji Demola Nurudeen Banu, disclosed this after the state's JAAC meeting held in Ilorin.

Banu said the car loan would enhance productivity of the political office holders, adding that government was working assiduously on local government workers loan scheme.

He said N738,649,138.39 was shared among the 16 council areas for August, while the Gross Statutory Allocation for the month stands at N2,020,779,113.20.

The commissioner said the shortfall of N500m for August allocation from the Federation Account is made up of a shortfall of N350m by the state while the local governments recorded N150m shortfall.

He reiterated the state government's resolve to continue to ensure prompt payment of workers' salaries as well as meet other financial obligations.

Banu said the shortfall from the Federation Account would not prevent the government from executing developmental projects in the state, adding that the state government has placed high premium on welfare of the people.

He said the Statutory Allocation for August was N2,020,779,113.20, while amount distributable stood at N738,649,138.39.