Succour may have come the way of State Government, particularly, Kogi State and workers as the Federal Government has agreed to defer all loan deductions for state governments from April 2020 to April 2021
The decision according to the Federal Government is to lessen the impact of the plummeting oil price and COVID-19 pandemic on the finances of the states.
Recalled that the FAAC ALLOCATION ACCRUED TO KOGI STATE FOR THE MONTH OF APRIL 2020 DROPPED BY 30%.
The state net statutory allocation for the month of April is N1,736,231,350.68. The value added tax( VAT) and exchange gain for the month of April is N938,018,569.93 and N186,683,266.69 respectively. Therefore, the state gross statutory revenue income for the month of April is N2,860,933,186.62 compared to N4,078,691,569.91 for the month of March.
The 21 local government areas in Kogi state received a net statutory allocation of N1,517,706,851.32 The value added tax (VAT) and Exchange gains for the month of April is N642,963,989.13 and N140,146,959.74 respectively. Hence, the local Government areas gross statutory revenue is N2,300,817,800.19
With the lastest development, the workers in Kogi State who last month Received percentage salaries may smile home if the amount deducted from the state accounts is returned.
Workers in the State, Local Government and Teachers Received 80%, 35%, and 40% respectively as salaries all things being equal earn full salaries to enable them have a blissful Eid El Fitri amidst the challenge covid19 lockdown currently ravaging the world.