Skip to main content

Kwara receives N2.8bn from FAAC

Governor Abdulfatah Ahmed of Kwara State

Governor Abdulfatah Ahmed of Kwara State

Kwara State Government on Wednesday said it received about N2.8 billion as its share of August allocation from the Federation Account.

This is contained in a statement issued in Ilorin by the Commissioner for Finance, Alhaji Demola Banu.

The Commissioner said the figure showed a slight increase from the N2.41 billion the state received in the preceding month.

He said that the state got statutory revenue allocation of N1.41 billion and Value Added Tax (VAT) of N701.81 million.

He added that the state also received N474.39 million for Exchange Gain Difference and Excess Profit before Tax of N190.99 million, all adding up to N2.8 billion.

Similarly, the commissioner said that the 16 local government areas in the state got a total of N2 billion for the month.

This, he said, was higher than N1.77 billion they received for the month of July.
He explained that the local government areas’ allocation for the period comprised statutory allocation of N1.17 billion and VAT of N398.23 million.

Banu said that the amount also included N312.89 million for exchange gain difference and N125.97 million from excess profit before tax.

Labels:

Comments

Post a Comment

Popular posts from this blog

Court grants Fani-Kayode N50m bail

Fani-kayode sandwiched by EFCC officials Justice James Tsoho of the Federal High Court Abuja on Thursday granted a N50m bail to former spokesman of the Goodluck Jonathan Campaign Organisation, Chief Femi Fani-Kayode. Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge of money laundering to the tune of N26m. Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016. The EFCC accused the defendant of diverting 26 million Naira allegedly received from the ONSA while Sambo Dasuki was in office. The anti-graft agency also accused him of handling the said N26 million without going through financial institution as required under the Money Laundering Act. The embattled former minister is already facing 17-count charge of money laundering before the Lagos Division of the court, along with a former Finance Minister; Nenadi Usman, Danjuma Yusuf and a firm; Joint Trust Dimension Nigeria Limited. They were charg...
Post a Comment
Read more

Pope not involved in Colombian peace deal- Vatican

Pope Francis Pope Francis has turned down a request to play a role in the peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) rebel group. The Vatican in a statement issued on Wednesday in in Vatican City said that an invitation was sent to his Holiness in early August to appoint a representative to participate in the committee that selected the judges for the talks. The statement said that though Pope Francis supported the peace process, he, however, reiterated that he would not get involved in Colombian peace deal. It said that Pope was praying for the enlightenment of the hearts and minds of those who were called to promote the common good of the Colombian nation. A deal was announced last week, putting an end to five decades of internal conflict between government forces and the FARC rebels. The agreement, which needed to be ratified through a referendum in Oct. 2, would entail setting up a special court to grant amnesties or pu...
Post a Comment
Read more

Fall of Assad is a Blow to Russia's Prestige

The potential fall of Syrian President Bashar al-Assad, a long-standing ally of Russia, would mark a turning point in Moscow’s global influence, particularly in the Middle East. Steve Rosenberg’s analysis underscores the profound implications for Russia, which has invested heavily—both militarily and politically—in ensuring Assad’s survival over the past decade. This article delves into why Assad’s downfall would strike at the core of Russian prestige and what it could mean for the broader geopolitical landscape. Russia's Strategic Commitment to Syria Since the outbreak of the Syrian civil war in 2011, Russia has been a staunch supporter of Assad's regime. In 2015, Moscow launched a military intervention that proved decisive in stabilizing Assad’s hold on power. This intervention solidified Russia's role as a key power broker in the Middle East and demonstrated its willingness to project military power far beyond its borders. Syria is not just an ally for Russia; it is a...
Post a Comment
Read more