Kwara gets N3.5bn Federal allocation for January - NATIONAL TRUMPET

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Saturday, January 23, 2021

Kwara gets N3.5bn Federal allocation for January


Kwara State Government has received a total inflow of N3,576,113,211:84 (net) as federal allocation for the month of January, a statement has said.
 
The allocation comprises  statutory revenue allocation SRA (Gross) of N2,255,681,423:03; deductions (loans) of  N311,433,452:27; Value Added Tax (VAT) of N1,573,032,994:62; Exchange Gain Difference of N21,194,766:68; and Forex Equalization fund of N37,637,479.78. 
 
The figure is higher by N171,429,665:67 when compared with last month, while N776,799:59 was deducted at source in Abuja from State fund as the first tranche of 12 for payment of FAAC Disbursement Software, the statement added. 
 
The statement said the 16 local government areas also received a total sum of N2,310,296,927:17 (net) as federal allocation for the month of January.
 
The figures comprise SRA (Gross) 1,487,774,799:00; Deductions N106,965,494:08; SRA (Net) N1,380,809,304:92; VAT 890,683,767:79; Exchange Gain Difference N13,979,385:31; and Forex Equalization fund N24,824,469:15.
 
The figure is higher by N95,263,882:26 when compared with last month, while N932,159:52 was also deducted at source in Abuja for payment of FAAC Disbursement Software from the LGAs’ allocation.

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