Kwara State Government has 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 late Thursday 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.