Federal allocation: Kwara gets N4.3bn for August

The Kwara Government has confirmed receipt of N4.3 billion as federal allocation for the month of August.

The government announced this in a statement issued by the state Ministry of Finance.

The statement was made available to journalists on Wednesday in Ilorin by the ministry’s Press Secretary, Mr Abubakar Daibu.

It said the allocation comprised Statutory Revenue Allocation – SRA (Gross) of N3.5 billion; Deductions (loans) of N672 million; SRA (Net) N2.8 billion; Value Added Tax (VAT) of N1.4 billion, and Exchange Gain Difference of N13.1 million.

The statement added that the 16 local government areas also received a total sum of N2.9 billion as federal allocation for the month of August.

The figures comprised SRA (Gross) N2.3 billion; Deductions N175.3 million; SRA (Net) N2.1 billion; VAT N796 million, and Exchange Gain Difference N8.6 million.