Date: 2016-09-21

The Kwara State government has released federal allocation figures for the month of September, 2016.

According to a statement issued on Tuesday by the Commissioner for Finance, Alhaji Demola Banu, the State government got a total of N2, 775, 379, 772.06 from the federation account as allocation for September, against the N2, 415, 287, 063.09 received last month.

Giving a breakdown of the allocation, Alhaji Banu said that the State government got a statutory revenue allocation of N1, 408, 189, 424.11; Value Added Tax (VAT) of N701, 811, 875.39; Exchange Gain Difference of N474, 387, 481.40 and Excess Profit Before Tax of N190, 990, 991.16, totaling N2, 775, 379, 772.06.

While giving details of the federal allocation received by the 16 local government councils in the State, the Finance Commissioner disclosed that the LGs got a total of N2, 009, 635, 529.23, which is against the N1, 773, 356, 580.06 they received in August.

Figures released by him show that the LGs got a statutory allocation of N1, 172, 544, 360.18; VAT of N398, 228, 963.17; exchange gain difference of N312, 890, 700.16 and excess profit before tax of N125, 971, 504.92, making a total of N2, 009, 635, 529.23.