Kwara Gets N4.3bn Fed Allocation For August

Kwara State Government has received N4,313,554,832.86 as federal allocation for the month of August.

The sixteen local governments in the state also received N2.9B allocation for the same month.

This is contained in a press statement issued by Press Secretary, Ministry of Finance, Daibu Abubakar Wednesday morning, made available to journalists in Ilorin.

According to the statement, ”The allocation comprises statutory revenue allocation SRA (Gross) of N3,560,049,341.14; deductions (loans) of N672,332,412.51; SRA (Net):N2,887,716,928.63 Value Added Tax (VAT) of N1,412,643,896.40 and Exchange Gain Difference of N13,194,007.83.

The statement also stated that the 16 local government areas  received a total sum of N2,977,927,751.25 as federal allocation for the month of August.