The FAAC Allocation Accrual to Kogi State Government and its 21 local government councils for February 2024 is N14.4 billion , the Vital News has learnt.
A statement signed by the state Commissioner for Finance, Budget and Economic Planning, Ashiru Idris confirmed this.
Ashiru, in the statement issued on February 29 said the figure was disclosed during the monthly meeting of the Federation Account Allocation Committee (FAAC) which was held in February to review and approve the allocation of funds to the three tiers of government.
Ashiru represented Kogi State government at the meeting.
The details of the allocation from the federation account for February 2024 for both the state and local government are outlined below : “The net statutory allocation for the state in February was N1,072,602,477.91.
“The Value Added Tax (VAT) and exchange gain difference for the month were N4,282,720,815.70 and N1,860,741,620.20, respectively.
“Additionally, there was a refund on electronic money transfer amounting to N184,755,397.63.
“Therefore, the state’s gross statutory revenue income for February was N7,400,840,311.44.”
According to Ashiru, the 21 local government areas of Kogi State received a net statutory allocation of N2,335,532,610.36 in February.
“The VAT and exchange gain difference for the local government areas were N2,834,000,000 and N1,393,767,206.82, respectively.
“Additionally, there was a refund on electronic money transfer amounting to N126,404,933.74.
“Therefore, the local government areas’ gross statutory revenue for February was N6,689,704,750.92,” he explained.
Asiru stated that : ” The detailed information provided aligns with Governor Ahmed Usman Ododo’s leadership style and commitment to integrity, transparency, and accountability in the utilization of state resources. “. (vitalnewsngr.com)
