FAAC: Kwara gets N3.1b for May 2020

Tunde Akanbi, Ilorin

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The Kwara State Government has received N3,163,836,769:46 (net) as the state’s Federal Allocation for May , 2020.

The allocation to the state government is lower by 304,379,840:55 compared with the receipt for April.

The 16 LGAs got N2,374,870,281:05 which is lower by N187,384,602:25 compared with the April figure.

The state Commissioner for Finance and Planning, Florence Olasumbo Oyeyemi disclosed this in a statement issued in Ilorin, the State capital.

According to the statement, the Federal Government has deferred all loan deductions for state governments from April 2020 to April 2021 to lessen the impact of the plummeting oil price and COVID-19 pandemic on the finances of the states.

Consequently, the commissioner said loan deductions made from Kwara State allocation for April and May would be refunded.