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FAAC: Kwara Govt Releases January Allocation Figures

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FAAC: Kwara Govt Releases January Allocation Figures

Gov. Ahmed

The Kwara State government has released its federal allocation figures for the month of January, 2018, ROYAL NEWS reports.

The Permanent Secretary of the State Ministry of Finance, Mr. Benjamin Fatigun, in a statement on Wednesday, said the State government got a total of N3,577,723,205.47 as allocation for January.

Giving a breakdown of the allocation figures, Fatigun disclosed that the State government got a statutory allocation of N2,611,926,815.07, Value Added Tax (VAT) of N785,738, 397, 983.77, Forex equalization of N167,897,983.77 and excess charges N12,160,008.86, totaling N3,577,723,205.47.

The Permanent Secretary also announced that the 16 local government councils in the State received a total of N2,539,569,915.69 as allocation for January, against the N2,371,238,596.74 they got in December, 2017.

He said that the LGs’ allocation was made up of statutory allocation of N1,975,209,334.17, Value Added Tax (VAT) of N445,600,130.22, Forex equalization of N110,740,101.20 and excess charges of N8,020,350.10.

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