Kwara Govt Releases Details of March Federal Allocation

Date: 2017-03-22

The Kwara State Government has released federal allocation figures for the month of March, 2017.

According to figures released on Tuesday by the State Commissioner for Finance, Alhaji Demola Banu, the State government got a total of N2, 232, 502, 869.30 as allocation for March, against the N2, 510, 848, 023.62 it received in February.

The March allocation dropped by N278, 345, 154.32 from the amount the government received last month.

A breakdown of the allocation shows that the State government got a statutory allocation of N1, 027, 054, 505.03, Value Added Tax (VAT) of N650, 180, 324.70, Exchange Gain Difference of 222,943,714.99 and Excess Petroleum Profit Tax (PPT) of N332, 324, 324.62, which gives a total of N2, 232, 502, 869.30.

Banu also disclosed that the 16 local government councils in the State received a total of N1,658, 539, 286.80 as allocation for March, against the N1, 837, 925, 388.19, they received in February. The LGs' March allocation decreased by N179, 386, 101.39 from the February allocation.

Giving a breakdown of the allocation, Alhaji Banu said that the councils got a statutory allocation of N923, 374, 901.19, Value Added Tax (VAT) of N368,927,474.85, Exchange Gain Difference of N147, 046, 492.19 and excess Petroleum Profit Tax (PPT) of N219,190,418.56, totaling N1,658,539,286.80.

The Commissioner, however, noted that the councils require a total of N2, 080, 531, 810.86 to meet their monthly salary and pension obligations. According to him, the sum of N579, 970, 740.32 is needed monthly to pay salaries of LG employees, N1, 144, 635, 821.02 for SUBEB staff while the sum of N355, 925, 249.52 is required to pay LG pensioners every month.

He added that the State government on its part, spends about N2.4billion monthly on its workers’ salaries, pensions and overheads.

Click to add/read Comments

 

 


Cloud Tag: What's trending

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

Ilorin     Omu-aran     Code Of Conduct     BIR     Vasolar Consortium     KWATMA     Nurudeen Mohammed     Sheriff Olanrewaju     Sebastine Obasi     Lanwa     Matthew Okedare     Sanusi Abubakar     Mustapha Olanipekun     Kwara Politics     Bolaji Abdullahi     Gafaru Olayiwola Olorisade     Pategi     Borgu     Ita-Ore     Ndakene     Ali Ahmad     Segun Olawoyin     Okedare     Hamidat Sulyman-Yusuf     Kupchi Hosea Maxwell     State Bureau Of Internal Revenue     John Dara     Seni Saraki     Kisra     Kwarareports.com     2017 Budget     Ladi Hassan     Age AbdulKareem     Mohammed Kamaludeen     Salihu Alhaji Musa     Osi     Salary     Olugbense     Abubakar Baba Sulaiman     Salake     Tunde Yusuf     Code Of Conduct Bureau     Chief Of Staff     Ayodele Kuburat Olaosebikan     Abdulrazaq Akorede     Elekoyangan     Fatai Olodo     Abdul-Rasheed Na 'Allah     Olomu     Post Utme     Kayode Issa     Share     SGBN     Roseline Oni Aremu     Elelu     Kudirat Arinola Lawal     Transition Implementation Committee     Orisun Igbomino     Ayo Opadokun     Bola Iyabo Ibiyeye Adisa     Saraki     Aremu Odolaye     Ijagbo Health Centre     Oyun     Labaeka     Musa Yeketi     Lafiagi     Ayeni     Patience Jonathan     High Court     Ayinke Saka     Ajikobi     Albert Ogunsola     Baakini     Oja-Oba     Sherif Sagaya     GANZY