Kwara receives N3.2bn February federal allocation


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Governor Abdulrahman Abdulrazaq of Kwara State

Kwara Government has received N3,255,019,095.98 as allocation from the federation account for the month of February.

The state Commissioner for Finance and Planning, Mrs Oyeyemi Olasumbo Florence made this known in a statement on Saturday in Ilorin.

She said the state got N2, 286, 737, 054.07 (net) Statutory Revenue Allocation (SRA) and N958, 364, 447:96 value added tax (VAT).

Oyeyemi said part of the allocation was the sum of N5, 783, 677:33, which was for exchange gain and N4, 133, 916:62 excess bank charges bringing the total to N3, 255, 019, 095:98.

“The N3.2billion excludes the N610, 762, 826:72 deductions by the Federal government for various loans inherited by the administration,

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“For the month, the state government spent N2, 368, 021, 322.69 on salary, pension and gratuities; and N302, 926, 219.91 on running costs across the Ministries, Departments and Agencies (MDAs), totalling N2,670,947,542.6,” she said.

The commissioner said a total of N2, 461, 583, 280:22 was received by the 18 local governments in the state as allocation for February.

She gave the breakdown of N1, 911, 097, 577:32 as statutory allocation; N543,944,377:44 as VAT; N3,814,727:24 (Exchange Gain) and N2,726,598:22 (Excess Bank Charges).

“While the entire local government councils got a total net allocation of N2,461,583,280:22, they spent N2,610,550,422.13 on salaries and other workers’ obligations for the month,” she added.

The Commissioner said the local governments have a shortfall of N148,967,141.91 (or 6.05%) sourced from their entire IGR (N94,544,870.07) and another N54,422,271.84 from their reserve.