KGSG receives N4.4b allocation for September 2020

KGSG receives N4.4b allocation for September 2020

Friday, October 16, 2020 6:49 pm


Naira notes


Richard Elesho/ Lokoja

Kogi State Government has confirmed the receipt of N4.4 billion
as gross distributable statutory allocation for the month of September 2020 from the federation account.
This was disclosed in a statement by Mukadam Asiwaju Idris, the state Commissioner for Finance, Budget and Economic Planning.

Giving a breakdown of the fund, Idris said the state net statutory allocation for the month of September is N1,649,069,915.11. The value added tax(VAT) for the month is N1,396,284,134.53. The forex equalisation and non oil revenue for the month is N267,913,324.74 and 350,451,972.71 respectively. The Federal government intervention fund for the month is N487,829,146.01

Similarly a total of N3.4 billion accrued to the 21 Local Government Areas, LGAs in the State

The Commissioner disclosed that the local government areas received a net statutory allocation of N1,649,069,914.11 for the month. The Value added tax(VAT) is N957,985,963.25. Also,the forex equalisation and non oil revenue for the month is N201,128,031.46 and N263,091,488.49 respectively. The Federal government intervention fund is N366,223,351.97.

“The above figures summarise the receipt for the month of September for both state and LGA’s.

“Its a responsibility placed on us by our quest as an administration to deliver good governance to the people via accountability and openness,which by virtue of the New Direction Ideology, we shall remain committed without reneging.” He said

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