By Matthew Denis
Kwara State has received a total sum of N3,499,479,078:8 from federal
allocation for the month of September, 2019 an official said on
Wednesday.
The figures came from the Federation Accounts Allocation Committee
(FAAC) meeting held in the Federal Capital Territory,ย Abuja
The Permanent Secretary Kwara State Ministry of Finance, Benjamin
Fatigun stated this in a statement that the breakdown of the
allocation included N2,671,456,690:77 Statutory Revenue Allocation
(SRA); N822,283,102.94 Value Added Tax (VAT); and N5,739,285.10
Exchange Gains.
The Federal Government has started the deduction of budget support
fund — popularly called Bailout Fund — given to the 36 states in the
heat of the economic recession that hit Nigeria in 2016.
A total of N225m was deducted at source from the September allocation
to the Kwara State Government, Fatigun added.
The statement also put the total allocation to the 16 local government
areas at N2,730,076,440.90 for the month, comprising N2,259,518.93
SRA; N466,855,474.41 VAT; and 3,785,447.56 exchange gains.
Governor AbdulRahman AbdulRazaq, meanwhile, has directed immediate
payment of salary, pensions and gratuities for the month.
