Kwara State Governor, AbdulRahman AbdulRazaq has presented a budget proposal of N123,091,307,468 to the state House of Assembly.
Presenting the summary of the budget speech at the State House of Assembly Complex in Ilorin, Govenor AbdulRazaq described the fiscal document as a product of wide consultations with the electorate and designed to reflect current economic challenges.
According to him, the proposal contains provisions for payment of the minimum wage once government reaches a deal with the labour.
He said the budget is 54% recurrent expenditure and 46% capital expenditure, adding that it is a fallout of the dwindling revenue from oil and internally generated revenue.
AbdulRazaq explained that the state government will urgently prioritise anti-poverty measures to cushion the effects of general economic crisis on vulnerable households and small businesses amidst the COVID-19 pandemic.
He hinted at the possibility of the administration taking a bond to finance key infrastructural projects later in the year.
AbdulRazaq noted that Education will gulps a huge chunk of 25.5% of the budget proposal, followed by health which grabs 13.7%. among others.
He said the fiscal plan will be funded from statutory allocations receipts estimated at N35,202,116,840; Value Added Tax of N14,613,315,409; other sundry revenues from the federal allocation pegged at N4,792,119,551; internally generated revenue estimated at N28,754,218,374; income from other sundry sources at N193,322,646; aid and grants pegged at N16,427,182,208; other capital receipts estimated at N9,458,032,440; as well as an opening balance of N13,651,000,000.
In a remark, the Speaker Kwara state House of Assembly, Salihu Yakubu-Danladi commended the present administration for the faithful implementation of the 2020 budget.
He said the lawmakers will scrutinise the document and ensure it passes through the relevant thresholds of participatory democracy and good governance.
ALI MUHAMMAD RABIU
