…Govt Says Still Not Enough To Meet Needs
By Wole Adedeji, Ilorin
The Kwara State government has received the sum of N2,886,631,784.67k as federal allocation for the month of March, 2022, the state Ministry of Finance has said.
The allocation is said to comprise statutory revenue allocation, SRA, Gross: N1,967,500,363.58; deductions (loans); N1,268,042,679.71; SRA (net): N699,457,683.87; Value Added Tax, VAT: N1,665,520,784.67; Excess Bank Charges: N33,391,774.95 and
Non Oil Revenue of N488,261,483.95.
The March 2022 allocation figure is higher by N291,079,653.10 when compared with that of the month of February but still, the Kwara Finance Ministry said that the figure represents a “worrisome downward trend in revenue.”
In a related development, the state’s 16 local government areas also received the sum of N2,546,039,717.27 (net) as federal allocation for the month of March.
The figures, according to the ministry, is comprised SRA, gross: N1,297,699,856.05; deductions, N37,797,083.19; SRA, net, N1,259,902,772.86k and VAT N943,514,314.35; Excess Bank Charges of N21,302,611.76 and Non Oil Revenue of N321,320,018.30.
Similarly, the figure is higher by N182,075,917.36 when compared with the last month allocation.
Kwara local governments might need extra funds to pay 100 per cent salary this month.
