FAAC: Kogi Govt. Discloses Disbursement Breakdown for February
The Federation Account Allocation Committee (FAAC) has convened its monthly meeting for February 2024 to assess and approve the distribution of funds among the three tiers of government.
Representing Kogi State Government at the meeting in Abuja was the Hon. Commissioner of Finance, Budget, and Economic Planning, Mukadam Asiwaju Asiru Idris, FCA.
As follows are the detailed breakdown of the allocation from the federation account for the month as mentioned above for both the state and local governments:
State’s net statutory allocation amounted to N1,072,602,477.91.
Hillcrest TV News gathered that there were value-added tax (VAT) proceeds of N4,282,720,815.70, an exchange gain difference of N1,860,741,620.20, and a refund on electronic money transfers totaling N184,755,397.63, while the state’s gross statutory revenue income for February stood at N7,400,840,311.44.
According to the statement issued by the Kogi State Commissioner for Finance, Budget, and Economic Planning, Hon. Asiwaju Idris Asiru, FCA, the 21 Local Government Areas received a net statutory allocation of N2,335,532,610.36, N2,834,000,000 from VAT proceeds, as well as N1,393,767,206.82 from exchange gain differences, and N126,404,933.74 from refunds on electronic money transfers.
As a result, the total gross statutory revenue for the local governments in February was N6,689,704,750.92.
The Commissioner explained that the detailed breakdown as given, aligned with the pledge and commitment of the State Governor, Alhaji. Ahmed Usman Ododo upholds integrity, transparency, and accountability in the management and appropriation of the state’s resources.
