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The Kogi State Government has confirmed that it has received a gross statutory distributable income for the month of November put at N3,475,518,849.85; while the 21 local government areas got N2,824,134,338.03.
This confirmation was given yesterday by the state Commissioner of Finance and Economic Development, Asiwaju Idris Asiru.
“As it must have been noticed by suspecting public,about the delay of the monthly FAAC meeting,which should have taken place on 23rd,Nov but was postponed by two(2)weeks at the instance of state commissioners of Finance due to the unacceptable figures presented by NNPC.
“However, the revolt at the end of the day occasioned the addition of N30billion by NNPC as excess crude oil revenue,” he said.
According to him, the state has in its accordance to the New Direction core values has decided to continue to make open the allocations from the federation account.
He revealed: “The state net statutory allocation for the month of November is N2,343,001,505.30. The value added tax(VAT) for the month of November is N921,905,147.17. The return from Excess bank charges and Excess crude revenue is N7,350,053.21 and 203,262,144.17 respectively.
“Therefore,the state gross statutory distributable income for the month of November is N3,475,518,849.85
“The 21 local government areas in Kogi state received a net statutory allocation of N2,034,798,946.87 for the month of November. The Value added tax(VAT) for the month of November is N631,224,492.05. Also,the return on Excess bank charges and Excess crude Revenue is N5,517,835.79 and N152,593,063.32 respectively. Hence,the local Government areas gross statutory allocation is N2,824,134,338.03.”
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