Date: 2016-12-17

The Kwara State government received a total of N2, 077, 949, 539.66 as allocation from the federation account for the month of December, 2016.

The State Commissioner for Finance, Alhaji Demola Banu, who disclosed this in a statement on Friday, noted that the December allocation declined by N155, 452, 369.24 representing a 6.96 per cent reduction from the N2, 233, 401, 908.90 received by the State in November.

Giving a further breakdown, Alhaji Banu said that the State government got a statutory allocation of N796, 037, 856,.73; VAT of N704, 583, 541,.31; exchange difference of N217, 173, 701.14 and excess Petroleum Profit Tax (PPT) of N360, 154, 440.48 totaling N2, 077, 949, 539.66.

Also, the Commissioner disclosed that the 16 local government councils in the State received a total of N1, 549, 701, 089.65 as against the N1, 663, 074, 959.01 they received in November.

The December allocation for the local councils dropped by N113, 373, 869.36, which reflects 6.81 per cent decrease from the November allocation.

According to the figures released by Alhaji Banu, the local councils got a statutory allocation of N768, 788, 907.02; VAT of N400, 125, 139.26; exchange difference of N143, 240, 776.94 and excess Petroleum Profit Tax (PPT) of N237, 546, 266.43, which gives a total of N1, 549, 701, 089.65.