LAGOS EYE NEWS

Kwara gets N3.5bn Fed allocation for January|LAGOS EYE NEWS

Page Visited: 67
0 0
Read Time:1 Minute, 19 Second
…16 LGs get N2.3bn

Kwara State Government has received a total inflow of N3,576,113,211:84 (net) as federal allocation for the month of January.

This was said in a statement issued on Saturday by Mr Daibu Abubakar, Press Secretary,
Ministry of Finance and Planning.

According to the statement as quoted, the allocation comprises statutory revenue allocation SRA (Gross) of N2,255,681,423:03; deductions (loans) of N311,433,452:27; Value Added Tax (VAT) of N1,573,032,994:62; Exchange Gain Difference of N21,194,766:68; and Forex Equalization fund of N37,637,479.78.

The figure is higher by N171,429,665:67 when compared with last month, while N776,799:59 was deducted at source in Abuja from State fund as the first tranche of 12 for payment of FAAC Disbursement Software, the statement added.

The figure is higher by N171,429,665:67 when compared with last month, while N776,799:59 was deducted at source in Abuja from State fund as the first tranche of 12 for payment of FAAC Disbursement Software, the statement added.

The figures comprise SRA (Gross) 1,487,774,799:00; Deductions N106,965,494:08; SRA (Net) N1,380,809,304:92; VAT 890,683,767:79; Exchange Gain Difference N13,979,385:31; and Forex Equalization fund N24,824,469:15.

The figure is higher by N95,263,882:26 when compared with last month, while N932,159:52 was also deducted at source in Abuja for payment of FAAC Disbursement Software from the LGAs’ allocation.

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Leave a Reply