Kogi Gets N14bn FAAC Monthly Allocation for February 2024

Ahmed Usman Ododo

The Kogi State Government has confirmed the net sum of N14,090, 545,062.36 accrued to the state and local government areas from the Federation Account Allocation Committee (FAAC) for the month of February 2024.

ebirareporters.com reports that Kogi state has currently has no elected Chairmen of local government areas, but politically appointed caretakers.

The State Commissioner for Finance, Budget and Economic Planning, Asiru Idris who represented the state at the monthly meeting of FAAC, confirmed the net allocation.

Net statutory allocation – N1,072,602,477.91.
The value added tax (VAT) – N4,282,720,815.70,
Exchange gain difference – N1,860,741,620.20.
Refund on electronic money transfer – N184,755,397.63.
Total (Gross Revenue) – N7,400,840,311.44

Net Statutory Allocation – N2,335,532,610.36.
The value added tax (VAT) – N2,834,000,000
Exchange gain difference – N1,393,767,206.82, while the
Refund on electronic money transfer – N126,404,933.74.
Total (Gross Revenue) – 6,689,704,750.92

The Commissioner conveyed the promise of Governor Ahmed Usman Ododo to uphold integrity, transparency and accountability in the utilization of state resources.

He described the publication of the allocation as “a firm testament that he’s a leader that keeps to his word as regards openness and diligence in service.

“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.”

Spread the love
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like