16 local governments in Kwara and their teachers have just smiled to the bank.
The 16 local government councils in Kwara State have shared the sum of N814,920,591.05 from the State Joint Accounts Allocation Committee (JAAC) for the month of April, 2018.
This amount includes the 10% of the State government’s Internally Generated Revenue (IGR) distributable for the month, representing N43,458,040.87, Kwara State officials explained.
Chairman of the State chapter of Association of Local Governments of Nigeria (ALGON), Mr. Joshua Omokanye said the gross statutory allocation for the councils stood at N1,746,457,018.07, Value Added Tax (VAT) of N450,296,350.94 and exchange gain difference of N225,051,126.27.
Money deducted at source
The sum of N167,307,334.86 was deducted at source as repayment for the councils’ salary related borrowings from banks, Omokanye explained.
Other deductions according to him are one per cent training fund, which stood at N500,000 and 0.5 per cent JAAC budget, representing N1million.
Omokanye further explained that the sum of N1,073,111,998.01 was appropriated for the payment of Basic Education Teachers’ salary, while N408,422,612.23 was allocated for local government pensioners’ arrears.
He noted that with the allocation distribution, all categories of workers at the local government level would receive full salaries for the month of April.
State governments often receive a monthly allocation from the federal tier of government. The money comes from Nigeria's revenue generating sources like crude oil.