FAAC: Kwara Government releases details of allocation for October

According to reports, the Kwara State government says it received N3 billion as allocation from the Federation Account for October.

The State Commissioner for Finance, Demola Banu, said this in a statement issued on Wednesday in Ilorin.

He said that the October allocation was a N496 million reduction from the N3.5 bilłion the state government received in September.

A breakdown of the allocation shows that the state got statutory allocation of N1.9 billion, Value Added Tax (VAT) of N772 million and exchange difference of N288 million.

According to the statement, details of the October allocation to the 16 Local Government councils in the state, show that they got a total of N2.1 billion against the N2.5 billion they received in September.

According to the figures released by the commissioner, the councils received statutory allocation of N1.5 billion, Value Added Tax of N438 million and exchange difference of N190 million, making a total of N2.1 billion.

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