Federal allocation: Kwara warns against impending financial crisis

Date: 2012-07-04

The Kwara State Commissioner for Finance Mr. Demola Banu has warned against impending financial crisis in many states of the federation over late release of federal allocations.

Banu who made the call in Ilorin while speaking to journalists said late release of federal allocation accruable to the state was causing delay in payment of workers.

The commissioner, who also called for pragmatic approach among the states of the federation on their Internally Generated Revenue (IGR) to bail themselves out and meet their financial obligations, added that recent crash in the price of oil in the world market, affected the delay in the transfer of federal allocation to the states of the federation.

He said: "Governor Abdulfatah Ahmad is very much concerned about welfare of Kwara workers. Workers' would be paid before the end of the month. What caused the delay in the delay in payment of workers' salary is the late transfer of allocation from the federation account.

"We usually hold FAAC meeting between 12 and 13 of every month, but we held this one between 18 and 19. We just received it today. We largely depend on what we get from federal allocation and we are even 33rd on the allocation ladder among other states of the federation. It is almost impossible to pay workers' salary without allocation."

Banu, who said the state could not continue to rely solely on allocation, added that Kwara state gets an average of N2.5 billion every month as its federal allocation, and spends about N2.2 billion on monthly workers' salary.

The commissioner, who said the present state government had improved its annual IGR base from N450 million to N750 million, added that the target of the government is to realise N1 billion every year to enable it meet all its financial obligations.

Source

 

Cloud Tag: What's trending

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

Abdulazeez Uthman     Maja     CCEPE     College Of Health     Iponrin     Rafiu Olasile     Abubakar Lah     Oluwatoyin Lukman     Ahmad Ali     Medview Airlines     Tafida Of Kaiama     Ibrahim Bio     Abdulahi Abubakar Bata     Yunus Lawal     Eghe Igbinehin     Laolu Saraki     AIT Ilorin     Students Union Government     Ophthalmological Society Of Nigeria     Ilorin Water Reticulation     Ejidongari     Olufolake Abdulrazaq     Alimi     Tunde Saad     John Kehinde Salako     Salake     Rotimi Oyedepo     Gurei     MMWG     Soffiyyallah Kamaldeen     Diagnostic Centre     Garuba Alikinla Shittu     Opolo Global Innovation Limited     Elerin Of Adanla     Unilorin FM     Opaleke Bukola Iyabo     Shaykh Luqman Jimoh     Sa\'ad Alanamu     LABTOP     Teachers Specific Allowance     Gamji Members Association     Jimoh Bashir     Yusuf AbdulRasheed     PPS     Isau     Mohammed Jimoh Faworaja     Abdulraheem Olesin     Timothy Akangbe     Salami Adekunle     Kwara Liberation Group     Abdulbaqi Jimoh     Bola Olukoju     John Olajide Adedipe     New Nigeria People’s Party     Oba Sulaiman Asude     Elekoyangan     Ilorin Muslim Community     Yahaya Dumoye     Sai Kayi     Kwara 2019     Elese Of Igbaja     Asa     Agboola Babatunde     Dan-Kazeem     Gaa Olobi     Suleiman Alege Kuranga     Gbugbu     Al-Ilory     Bamidele Aluko     Olateju Lukman     KWACOBPA     Olanrewju Okanlawon Musa     Abdullateef Abdussalam     Olupako Of Share     Ahmed Bayero     Eghe Igbinehi     Haruna Olawale Sulaiman    

Cloud Tag: What's trending

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

Femi Agbaje     Sherif Sagaya     Akande Idowu Ayoola Muhammed     Quranic Recitation Competition     HYPPADEC     Olusin Of Ijara Isin     Yoruba     Rotimi Atere     Kazeem Gbolagade     Ilorin International Airport     Basic Education Certificate Examination     Ahmad Lawan     Buari Edun     Clara Nwachukwu     REO CAKES     Lotus Bank     Maryam Ado Bayero     Abdulrazaq Akorede     Nurudeen Mohammed     Ilorin South Constituency     Sunday Otokiti     Abdulfatai Baakini     Mohammed Lawal     Abdullahi Imam Abdullahi     Dar-Al-Handasah Consultants Ltd     Osi     KWIRS     Oba Abu     Sabo-Oke     IESA     Oniwa     Magaji Nda     Prince Sunday Fagbemi     Garment Factory     Kola Ologbondiyan     Sobi Hill     Rafiu Ibrahim     Ahmed Bayero     Kwara 2023     Oba Mogaji Abdulkadir     Justina Oha     Special Agro-Industrial Hub     Split Diamond Interchange     Emmanuel Bello     Hamidat Sulyman-Yusuf     Third Estate     Muslim Stakeholders Of Kwara State     Olabanji Orilonishe     Hajj     Logun     Coronavirus     Damilola Yusuf     Fatai Garuba Labaka     08001000100     Tsaragi-Share     Oke-Kura     Quareeb Islamic Association     Odo-Owa     Ibrahim Abdullahi     Mahmud Durosinlohun Atiku     Ayoade Akinnibosun     Adolescent Girls Initiative For Learning And Empowerment     Iliasu     Post Utme     Alfa Modibo Belgore     Aisha Buhari     Amos Justus Sayo     Oko-Erin     Ajibola Saliu Ajia     Rex Olawoye     Osuwa     Habeeb Abdullahi Al-Ilory     Adegoke Bamidele     Kwara State Health Insurance Agency     Titus Suberu-Ajibola     Mahee Abdulkadir     Bello John Olanrewaju