Kwara Govt Releases Details of May Allocation

Posted on by Eyitayo
THE Kwara State Government has released its federal allocation figures for the month of May 2017.
The State Commissioner for Finance, Alhaji Demola Banu in a statement on Wednesday, disclosed that the State government received a total of N2, 228, 644, 634.02 as allocation for May, against the N2, 488, 087, 776.60 it got in April.
Giving a breakdown of the allocation, Banu said that the government got a statutory allocation of N1, 101, 253, 990.30, Value Added Tax (VAT) of N802, 787, 619.90, Exchange Difference of N213, 146, 511.11 and excess Petroleum Profit Tax (PPT) of N111, 456, 512.71, totaling N2, 228, 644, 634.02.
The Commissioner further disclosed that the 16 local governments in the state received a total of N1, 646, 286, 879.72 as allocation for May, against the N1, 822, 491, 599.84 they got in April.

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Banu said the local councils’ sum was made up of statutory allocation of N977, 261, 249.70, Value Added Tax (VAT) of N454, 927, 866.76, Exchange Difference of N140, 584, 572.13 and excess Petroleum Profit Tax (PPT) of N73, 513, 191.13.
He decried the decrease in the May allocation, noting that the local councils require over N2billion to meet their monthly salary and pension obligation, while the State government spends about to N2.4billion every month on salaries, pensions and overheads.

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