FAAC:  Kwara releases August allocation figures


The Kwara State Government has released its Federal Allocation figures for the month of August, 2018.

A statement by the state Commissioner for Finance, Alhaji Demola Banu, on Thursday  revealed that the state received  a total of N3,720,913,343.47 as allocation for  the  month  as against N3,736,644,795.48 gotten  for July.

Banu disclosed that the state government’s allocation was made up of statutory allocation of N2,779,498,608.10, Value Added Tax (VAT) of N739,360,558.03, exchange gain of N136,571,551.80 and N65,482,625.54 as its share of the Nigerian National Petroleum Corporation (NNPC) monthly remittances to the Federation Account.

The commissioner also disclosed that the 16 local government councils in the state received a total of N2,671,560,399.00 as allocation for August while N2,680,279,278.01 was  gotten last month.

A breakdown of the allocation figures showed that the councils got a statutory allocation of N2,118,946,807.61, Value Added Tax (VAT) of N419,345,165.27, exchange gain of N90,078,195.86 and N43,190,230.26 as their share of the NNPC remittances.

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