Date: 2017-04-27

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

Alhaji Demola Banu, the State Commissioner for Finance in a statement on Wednesday, said the State government got a total of N2, 488, 087, 776.60 as allocation for April, against the N2, 232, 502, 869.30 it received in March.

Giving a breakdown of the allocation figures, Banu disclosed that the State government got a statutory allocation of N1, 244, 890, 599.61, Value Added Tax (VAT) of N750, 151, 123.02, Exchange Difference of N371, 578, 590.45 and excess Petroleum Profit Tax (PPT) of N121, 467, 463.52, totaling N2, 488, 087, 776.60.

He also revealed that 16 local government councils in the State received a total of N1, 822, 491, 599.89 as allocation for April, against the N1, 658, 539, 286.80 they got last month.

According to the breakdown released by the Commissioner, the local councils received a statutory allocation of N1, 071, 999, 329.90, Value Added Tax (VAT) of N425, 294, 976,.45, Exchange Difference of N245, 081, 267.72 and excess Petroleum Profit Tax (PPT) of N80, 116, 025.82, giving a total of N1, 822, 491, 599.89.

Banu, however, emphasized that in line with the financial arrangement of the federal government, elements of the monthly allocation are received at separate intervals. He noted that this causes occasional delay in payment of pensions, overheads and subventions to Ministries, Departments and Agencies (MDAs) in the State.