The Kwara State Governor AbdulRahman AbdulRazaq, on Tuesday presented a budget proposal of N123,091,307,468 to the House of Assembly.
Abdulrazaq said the budget was made up of N66,420bn for recurrent expenditure, representing 54 per cent, and N56,671bn for capital expenditure, representing 46 per cent.
According to the governor, 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; and an opening balance of N13,651,000,000.
He said, “The 2021 fiscal plan is built on the modest successes of the outgoing year, with strategic emphasis on reforms and inclusive growth. However, its fundamentals are dictated by the global economic realities, low revenue projections, and a need to prioritise basic needs of the people as we recover from the devastating effects of COVID-19. I will therefore be laying before you a budget estimate of N123,091,307,468.”
Education will gulp 25.5 percent of the budget, followed by health with 13.7 per cent. Economic will take 25.7 per cent, while general public service, a budget subhead that deals with the civil service, gets 26.5 per cent, according to the budget speech on government’s website.
The Speaker of the Kwara State House of Assembly, Salihu Yakubu-Danladi, said lawmakers would scrutinise the document and ensured that it passes relevant thresholds of participatory democracy and good governance.