Kogi Receives N3.6 Billion September Statutory Allocation

Posted by African Examiner Latest Headlines, News Across Nigeria, News From The State Thursday, October 26th, 2017

(AFRICAN EXAMINER) – As one of the few states that have fully operated the Open Governance Initiative, Kogi State has continued to show a New Direction of accountable governance and transparency.

This was contained in a statement issued by the Commissioner of Finance and Economic Development, Idris Asiru.

According to Asiru, the Kogi State Ministry of Finance and Economic Development has once again, laid open the allocations from the Federation Account for the month of September 2017 for both the State Government and the Local Government Councils.

The Monthly Federation Account Allocation Committee (FAAC) meeting for the month of September was held in Abuja on 24th Oct,2017.

The statement reads:

“To further demonstrate the ideology of transparency, efficiency and accountability which the New direction government stands for, we have decided to make the allocation public.

“The state net statutory allocation for the month of September is N2,414,041,323.57 as against N3,338,804,388.52 received for the month of August.

“The value added tax(VAT) for the month of September is N849,499,135.14 as against N909,135,970.86 received in the month of August.

“The foreign exchange(FOREX) difference for the month of June,July and August are N126,669,641, N95,234,355.50 and N136,371,848.87 respectively.

“Therefore, the state gross statutory distributable income for the month of September is N3,621,816,304.48

“The 21 local government areas in Kogi state received a net statutory allocation of N2,108,047,024.91 for the month of September as against N2,892,258.28 received last month.

“The Value added tax(VAT) for the month of september is N582,387,195.64 as against N620,482,976.92 received for the month of August.

“Also the foreign exchange(FOREX) difference for the month of June, July and August are N95,093,499.53,N71,494,385.23 and N102,377,145.81 respectively.

“Also,the LGA gross statutory allocation is 2,959,399,251.12

“There was a decrease in gross statutory revenue of N626,124,654.90 and N553,342,409.08 for the state and local government respectively for the month of September compared to the previous month of August.

“To further proof our genuineness to curb corruption in the state civil service and onslaught against ghost workers,as a state we shall continually make public the updated list of paid workers.

“Also shall continue to publish revelations from the staff verification exercise, including certificate status of the civil servants whose certificates and other official documents were duly verified.”