The Kwara State monthly Joint Accounts Allocation Committee (JAAC) meeting for the month of January, 2016 will hold today the 29th of January 2016 by 2 pm.

According to a statement by the State Commissioner for Finance, Demola Banu, the JAAC meeting will be attended by all sixteen Local Government chairmen in the State, their treasurers, representatives of the Ministry of Local Government and Chieftaincy Affairs, as well as the representatives of the Ministry of Finance.

He added that community leaders across the three senatorial districts of the state and representatives of labour unions are also expected to be at the meeting.

The Commissioner disclosed that for the month of January, the State government received the total sum of N1.870 billion from the federation account.

A further breakdown of the allocation by the Commissioner shows that the state government got a statutory revenue allocation (SRA) of N1, 262, 662, 127.16; VAT of N584, 263, 869.06 and exchange difference of N23, 989, 609.39,

He explained that the N1.870b received by the state government as federal allocation for the month of January is lower than the N2.4b monthly wage bill of the state.

Banu, however, assured that the state government will continue to make concerted efforts to ensure prompt payment of workers’ salary, despite dwindling resources.

The Finance Commissioner also gave the total amount received by the 16 local governments as allocation for January to be N1.505 billion.

Further breakdown shows that the local governments got a statutory revenue allocation (SRA) of N1, 158, 853, 610.32; VAT of N330, 814, 470.38, and exchange difference of N15, 822, 773.52.

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