Kwara federal allocation drops

Tunde Akanbi, Ilorin

The monthly federal allocation to Kwara State suffered another shortfall as the State got a total of N1.418,300,992.39 as allocation for the month of May, 2016 against the N1,519,879,557.87 received in April, representing a decline of about N101,578,565.48.

The State Commissioner for Finance, Demola Banu, who disclosed this in a statement in Ilorin, said the current allocation of the State is more than 50 per cent lower than what it used to receive.

Details of the May allocation as given by the Commissioner shows that the State government got a statutory revenue allocation of N798,096, 287.71; VAT of N606,693,177.52 and exchange difference of N13, 511, 527.16, totalling N1,418,300,992.39.

Banu also gave a breakdown of allocation received by the 16 local governments in the State for May to include statutory revenue allocation of N794, 854,933.26; VAT of N344, 139,224.32 and exchange difference of N8,911,768.03, totalling N1,147,905,925.61.

According to these figures, the May allocation for the local governments represents a reduction of N66, 748,241.87 from the N1, 214,654,167.48, they got in April.

The Commissioner for Finance added that although government’s monthly wage bill currently stands at N2.4 billion, the government will continue to strive towards ensuring that workers’ wages and pensioners’ entitlements are paid promptly.

 

Sammie