The Kwara State Government is to receive three-point-nine billion naira from the Federation Accounts Allocation Committee (FAAC) for the month of November, 2018. The State Commissioner for Finance, Alhaji Demola Banu, said this in a statement in Ilorin on Wednesday.
Banu said that the state’s allocation was made up of statutory allocation of two-point-eight billion naira, Value Added Tax of one billion naira and exchange rate gain of four-four million naira.
He said that the sixteen local governments in the state will receive two-point-eight-billion-naira allocation for November. Giving a breakdown of the allocation, he said the local councils would get statutory allocation of two-point-two billion-naira, Value Added Tax of five hundred and seventy-one million naira and exchange gain of two-point-nine million naira.