Kwara State Government on Thursday announced the receipt of N3,977,264,438.39 (three billion,nine hundred and seventy seven million, two hundred and sixty four thousand, four hundred and thirty eight naira, thirty nine kobo) as net allocation for the month of July.
A statement by the Permanent Secretary of the Ministry of Finance, Mr Benjamin Fatigun, gave the breakdown of the allocation to include N2,960,663,019.50 Statutory Revenue Allocation (SRA); N1,010,817,811.15 Value Added Tax (VAT); and N5,783,607.74 Exchange Gain.
The statement also said the entire 16 local government areas received a total sum of N2,880,023,786.04 (two billion, eight hundred and eight million, twenty three thousand, seven hundred and eight six naira, four Kobo as net allocation for the month.
The breakdowns of the money are N2,303,340,603.78 SRA; N572,868,500.92 VAT; and N3,814,681.34 exchange gain, according to the statement.