FAAC Allocation Accrue to Kogi State Government for February, 2024.
The monthly federation account allocation committee (FAAC) held her month of February meeting for the purpose of reviewing and adopting the allocation of funds to the three(3) tiers of government.
Kogi State as a federating unit was represented at the meeting by the Honourable Commissioner of Finance, Budget and Economic Planning, Mukadam Asiwaju Asiru Idris, FCA. Details of allocation from the federation account for the month of February 2024 for both state and local government are highlighted below.
The state net statutory allocation for the month of February is N1, 072,602,477.91. The value added tax (VAT) and exchange gain difference for the month is N4,282,720,815.70, and N1,860,741,620.20, respectively, while, the refund on electronic money transfer is N184,755,397.63 Therefore, the state gross statutory revenue income is N7,400,840,311.44 for the month of February.
In a statement signed by the Kogi State Commissioner for Finance, Budget and Economic Planning, Honourable Asiwaju Idris Asiru, FCA, the 21 local government areas of Kogi state received a net statutory allocation of N2,335,532,610.36. The value added tax (VAT) and exchange gain difference for the month is N2,834,000,000 and N1,393,767,206.82, while the refund on electronic money transfer is N126,404,933.74 Hence, the local government areas gross statutory revenue is 6,689,704,750.92 for the month of February.
Asiru noted that the detailed information provided is in accordance with the leadership style of Governor Ahmed Usman Ododo and his promise to the people of Kogi State to always uphold the core values of integrity, transparency and accountability in the utilisation of state resources, which was reteriated in his inauguration speech and many fora. This is a firm testament that he’s a leader that keeps to his word as regards openness and diligence in service.
He said the above figures summarise the receipt for the month of February for both state and LGAs. Therefore, the quest to deliver people oriented projects, policies, and programmes is, on course, underpinned by the purposeful drive of continuity and consolidation of this administration towards a greater Kogi state.
February 28th 2024.