Kogi gets N4.247b August allocation

FOLLOWING the controversies over the financial status of the state, the Kogi State government on Friday said it got N4,247,940,959.38 as gross statutory allocation for August 2017.

The Federation Account Allocation Committee (FAAC) meeting for the month of September 2017 was held on Thursday in Abuja.

The state commissioner for finance, Idris Asiru, said the state statutory allocation for the month of August was N3,338,804,988.52 as against N2,195,137,453.33 received in the month of July.

The Value Added Tax (VAT) for the month of August is N909,135,970.86 as against the July figure of N855,038,409.84, bringing the gross statutory distributable income for the month of August to N4,247,940,959.38.

According to him, the 21 local government areas in Kogi State received a statutory allocation of N2,892,258,683.28 as against the figure of N1,923,794,368.34 for the month of July.

He also said the VAT figures for August is N620,482,976.92 as against N582,236,382.71 for the month of July.

The commissioner said there was an increase of gross statutory revenue of N1,197,765,096.21 and N916,738,313.64 for state and local government respectively for the month of August compared to the previous month of July.

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He explained that government decided to publish the figures public in line with its policy of transparency, efficiency and accountability to the people of our the state.