Kogi receives over N3.6b as June allocation from FAAC—Asiwaju

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Lokoja

The Kogi state Commissioner for the Ministry of Finance, Budget and Economic planning, Mukadam Asiwaju Asiru Idris, said the state received N3,624,796,222.22 as gross statutory distributable income from the federation account for June 2020.

The commissioner made the disclosure in a statement he signed in Lokoja and made available to journalists.

He said the disclosure of the was “sequel to the avowed spirit of doing more, inclusively, with the New Direction core values of transparency, accountability and efficiency.

“It is 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.

According to him, the allocations were for the state government and the local government councils.

Giving the analysis of the allocations, the commissioner said:”The state net statutory allocation for the month of June is N2,390,270,222.22. The value added tax(VAT) for June is N1,031,567.784.95.

” The Exchange gain and excess bank charge for June is N195,062,398.85 and 7,895,816.25 respectively.

“Therefore,the state gross statutory distributable income for June is N3,624,796,222.22

“The 21 local government areas in Kogi state received a net statutory allocation of N2,126,171,584.30 for June.

“The Value Added Tax(VAT) for June is N706,427,235.29.

“Also,the exchange gain and excess bank charge forJune is N141,437,346.22 and N5,927,551.32 respectively.

“Hence,the local government areas gross statutory allocation is N2,984,963,717.13

“The above figures summarise the receipt for June for both state and LGA’s.”

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