Date: 2021-06-04

•16 LGs get N2.4bn

Kwara State Government has received a total inflow of N3,769,559,352.46k as federal allocation for the month of May, according to a statement from the Ministry of Finance and Planning.

The allocation comprises statutory revenue allocation SRA (Gross) of N2,470,291,730.53; deductions (loans) of 359,210,264.44; SRA (Net):N2,111,081,466.09 Value Added Tax (VAT) of N1,642,865,189.61; Exchange Gain Difference of N12,178,278:19; and Excess Bank Charges: N3,434,418:57.

The statement said the 16 local government areas also received a total sum of N2,413,664,136.98 (net) as federal allocation for the month of May.

The figures comprise SRA (Gross) N1,629,324,844.08; Deductions N154,421,557.50; SRA (Net) N1,474,903,286.58; VAT N928,486,288:21; Exchange Gain Difference N8,014,403.55; and Excess Bank Charges: N2,260,158.64.

Daibu Abubakar

Press Secretary,

Ministry of Finance&

Planning

May 27, 2021