The Kogi State government has made public its September allocation from the Federation Account Allocation Committee (FAAC).
The state government said in a statement yesterday that the action was in line with the transparency policy of the Governor Yahaya Bello administration.
The state commissioner of finance and economic development, Asiwaju Idris Asiru, told journalists shortly after the September allocation meeting held on October 26, 2018, that details of the allocations were open for public scrutiny.
Based on the information, the state’s gross allocation stood at N3,893,200,763.94 billion. N547,311,113.27 million was deducted from the gross receipt, leaving the state with a net SRA of N3,345,889,650.67.
A total of N808,623,556.85 million was received as income from the statutory Value Added Tax (VAT). Excess gain charges allocation amounted to N1,883,394.32, while
Bank charges were put at a total sum of N34,287,809.24 million only, resulting in a total of N4,190,684,411.08 billion.
All the local governments of the state received a revenue of N2,922,705,716.4 billion. Deductions came up to N89,972,595.51million, while the Net SRA scaled to N2,832,733,120.90 billion, with a VAT of 553,917,494.80.
Excess gain, according to the details provided by Asiru, amounted to N1,413,902.77 million, a total of bank charges of N25,740,562.11 million. The accumulated revenue was put at N3,413,805,080.58 billion.
The commissioner said the state government would continue to exhibit probity and transparency in handling the finances of the state, just as he assured civil servants and pensioners in the state that their salaries and pensions would be paid next week.
He thanked the civil servants and pensioners for their patience and understanding, saying the state government will also continue to fund projects that have direct bearing on the citizens of the state.