Kogi receives N4.2b as August allocation

The Kogi State Government has announced that it received 4,247,940,959.38 Naira as statutory allocation for August 2017.

In a statement issued on Friday by the Kogi State Commissioner for Finance and Economic Development, Idris Asiru, he said the State’s statutory allocation for the month of August is N3,338,804,988.52 as against N2,195,137,453.33 received in the month of July.

According to him, the Value Added Tax (VAT) for the month of August is N909,135,970.86 as against the July figure of N855,038,409.84. The state gross statutory distributable income for the month of August is N4,247,940,959.38.

The Federation Account Allocation Committee (FAAC) meeting for the month of September 2017 was held on Thursday in Abuja.

“The 21 Local Government Areas in Kogi state received statutory allocation of N2,892,258,683.28 as against the figure of N1,923,794,368.34 for the month of July. Also the VAT figures for August is N620,482,976.92 as against N582,236,382.71for the month of July.

“Conclusively, there was an increase of gross statutory revenue of N1,197,765,096.21 and N916,738,313.64 for state and local government respectively for the month of August compared to the previous month of July,” he said.

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