Date: 2018-11-29

The Kwara State Government is to receive a sum of N3,900,900,239.56 as allocation from the Federation Accounts Allocation Committee (FAAC) for the month of November, 2018.

The State Commissioner for Finance, Alhaji Demola Banu, made this known in a statement released in Ilorin on Wednesday.

Banu disclosed that the State Government’s allocation was made up of statutory allocation of N2,889,757,861.58, Value Added Tax of N1,006,717,214.68 and exchange gain of N4,425,163.30.

Furthermore, the Commissioner noted that the 16 Local Government Councils in the State are to receive a total of 2,807,545,263.41 as allocation for November.

Giving a breakdown of the allocation figures, he said the local councils got statutory allocation of N2,233,378,945.36, Value Added Tax of N571,247,622.89 and exchange gain of N2,918,695.16.