Federal allocation: Kwara warns against impending financial crisis

Date: 2012-07-04

The Kwara State Commissioner for Finance Mr. Demola Banu has warned against impending financial crisis in many states of the federation over late release of federal allocations.

Banu who made the call in Ilorin while speaking to journalists said late release of federal allocation accruable to the state was causing delay in payment of workers.

The commissioner, who also called for pragmatic approach among the states of the federation on their Internally Generated Revenue (IGR) to bail themselves out and meet their financial obligations, added that recent crash in the price of oil in the world market, affected the delay in the transfer of federal allocation to the states of the federation.

He said: "Governor Abdulfatah Ahmad is very much concerned about welfare of Kwara workers. Workers' would be paid before the end of the month. What caused the delay in the delay in payment of workers' salary is the late transfer of allocation from the federation account.

"We usually hold FAAC meeting between 12 and 13 of every month, but we held this one between 18 and 19. We just received it today. We largely depend on what we get from federal allocation and we are even 33rd on the allocation ladder among other states of the federation. It is almost impossible to pay workers' salary without allocation."

Banu, who said the state could not continue to rely solely on allocation, added that Kwara state gets an average of N2.5 billion every month as its federal allocation, and spends about N2.2 billion on monthly workers' salary.

The commissioner, who said the present state government had improved its annual IGR base from N450 million to N750 million, added that the target of the government is to realise N1 billion every year to enable it meet all its financial obligations.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Oloruntoyosi Thomas     Kwara 2015     Toyin Abdullahi     Shettima Of Ilorin     Amada Jidda     Yahaya Oloriegbe     Air Peace     Oniye     Egbewole     Azeez Bello     Kwha.gov.ng     ASKOMP     Olokoba     Yusuf Abubakar     Kolade Solagberu     IQRA College     Yusuf Zulu-Gambari     Ilesha-Gwanara     Abdulrauf Aliyu     Shaykh Luqman Jimoh     Rotimi Oyedepo     Chief Imam Of Ilorin     Ajidagba     Zainab Abass     Abdulkadir Orire     Bayo Lawal     Makama     Isiaka Rafiu Mope     Ademola Kiyesola     Oloye     Raheem Adaramaja     Ahmed \'Lateef     Adesina Simon Sodiya     Col. Adedipe     Shuaib Olarongbe     Tosin Saraki     Salman Jawondo     John Mayokun Dada     NURTW     Afonja     Muslim Cementary     Saka Isau     Borgu     Bello Bature     Musa Alhassan Buge     Lithium Deposit     Bibire Ajape     Bolakale Saka     HAMFAT Clinic And Maternity     Oluwatoyin Lukman     Ilorin Innovation Hub     Abdulmalik Bashir Mopelola Risikatullahi     AbdulGaniyu Kareem     KWACOBPA     Galadima     Ganmo     Ilofa     Basit Olatunji     Yemi Osinbajo     Ilorin Emirate     CACOVID Palliatives     Sa\'adu Salau     International Public Sector Accounting Standards     Sunset Workers     Shuaib Boni Aliyu     Theophilus Oyebiyi     Shonga     Ajia-Bako     MATTA Girls Foundation     Abubakar Atiku     Forgo Battery Company Limited     Prince Mahe Abdulkadir     Lola Olabayo     Saka Onimago     Magaji Are     Abikan     Bature Bello    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Esuwoye     Moses Adekanye     Share-Tsaragi     Kwara State Television (KWTV)     Ola Falade     ASKOMP     Gbajabiamila     Folaranmi Aro     Christopher Odetunde     Kwara Muslim Pilgrims Welfare Board     Kazeem Adekanye     Oye Tinuoye     Abdul Jimoh Mohammed     Ezekiel Yissa Benjamin     Magaji Nda     Young Progressives Party     Tunji Ajanaku     KFA     Aliyu Kora Sabi     Muideen Olaniyi Alalade     Suleiman Yahya Alapansapa     Suwa-Arabs     Sobi FM     Alabi Lawal     Rotimi Oyedepo     ER-KANG     Kisira     Patience Jonathan     Sulyman Buhari     Lateef Fagbemi     Harmony Holdings     Saduki Lafiagi     Rafiu Ibrahim     Iyiola Oyedepo     Mutawali Of Ilorin     Kpotum Mohammed Baba     Aminu Adisa Logun     Risikat Lawal     Christopher Ayeni     Kanu Agabi     Junior Secondary School Certificate Examinations     KWATMA     United Nigeria Airline     Ibrahim Bio     Kwabes     Sabi     Abdulmumin Yinka Ajia     Haliru Dantoro     Awoye     Sidikat Alaya     Funmi Salau     Kawu Baraje     Abdulrazaq Sanni     Oniwasi Agbaye     Solomon Edoja     Biliaminu Aliu     Sadiq Buhari     Shuaibu Yaman     Emir Of Yashikira     Bello Oyedepo     Bayo Lawal     Senior Staff Union Of Colleges Of Education     Umar Sanda Yusuf     JSSCE     Femtech     Bello Abubakar     Islamiya Abdulraheem     Yusuf Mubarak     Y.A. Abdulkareem     AbdulRahman Saad     Afin Descendants Union Of Odo-Owa     Aso-ofi     Ekiti     Amos Justus Sayo     Abubakar Baba Sulaiman     Iyabo Adisa Ibiyeye     Isau