Date: 2017-05-27

The 16 local government councils in Kwara State are to share the sum of N397, 315, 871.05 for the month of May, 2017. This amount includes the 10 per cent of the State government’s Internally Generated Revenue (IGR) distributable for the month, representing N33, 126, 851.92.

The State Commissioner for Finance, Alhaji Demola Banu, disclosed this on Friday during the monthly State Joint Accounts Allocation Committee (JAAC) meeting held in Ilorin.

Giving a breakdown of the May allocation to the 16 LGs in the State, Banu disclosed that the councils received a gross statutory allocation of N977, 261, 249.70, Value Added Tax (VAT) of N454, 927, 866.76, excess Petroleum Profit Tax (PPT) of N73, 513, 191.13 and Exchange Difference of N140, 584, 572.13

According to him, the sum of N280, 045, 355 was deducted at source as repayment for loan facility obtained by the councils in 2015 to pay salaries.

The Commissioner announced that following the deductions, the amount distributable among the LGs stood at N397, 315, 871.05, which is inclusive of 10% of the State’s IGR for the month.

He disclosed that the sum of N900m was appropriated for the payment of Basic Education (SUBEB) teachers' salary while the sum of N100, 552, 505.95 was allocated for LG pensioners' entitlements.