The Kwara State Government has said it received a total inflow of N2,886,631,784.67k as federal allocation for the month of March 2022.
The Informant247 Nigeria News gathered that a statement issued by Mr. Babatunde Abdulrasheed, the Press Secretary, state Ministry of Finance, on Thursday in Ilorin, confirmed the report.
The statement explained that the allocation comprised of Statutory Revenue Allocation (SRA-Gross) of N1,967,500,363.58k; Deductions (loans) of N1,268,042,679.71k; SRA (Net) of N699,457,683.87k; Value Added Tax (VAT) of N1,665,520,784.67k; Excess Bank charges of N33,391,774.95k and Non Oil Revenue of N488,261,483.95k.
It said that the March allocation figure is higher by N291,079,653.10k when compared with last month’s, but still represents a worrisome downward trend in revenue.
“The 16 local government areas also received a total sum of N2,546,039,717.27k (net) as federal allocation for the month of March 2022.
“The figures comprise SRA (Gross) N1,297,699,856.05k; Deductions N37,797,083.19k; SRA (Net) N1,259,902,772.86k; VAT N943, 514,314,.35; Excess Bank charges of N21,302,611.76k and Non Oil Revenue of N321,320,018.30k.
“The figure is higher by N182,075,917.36k when compared with last month’s allocation, even though it means the LGAs will need extra funds to pay 100% salary,” it stated.