Kwara Gov. Present N162bn Budget

•Education, health, infrastructure and enterprise top agenda


The kwara state Governor, Abdulrahman Abdulrasaq on Wednesday presented the 2020 budget estimates to the State House of Assembly.

The Governor made this known through his Chief Press Secretary, Rafiu Ajakaye in Ilorin.

He presented the budget with provisions for critical infrastructure and human capital development taking the larger chunk of the budget.

According to Abdulrasaq, the N162bn fiscal plan comprises 53% capital expenditure covering road construction and rehabilitation, rehabilitation and re-equipment of schools and hospitals, rehabilitation of court rooms, and completion of a 500-seater hall building at the House of Assembly.

"Basically, we are presenting a budget estimate of N162billion for 2020, up from N157bn budget of the outgoing year. For this year, we propose 47% recurrent expenditure and 53% capital expenditure in a deliberate attempt to invest in the future and grow the economy through critical infrastructure and human capital development" he said.

Mr Rahman said one unique thing is that the Budget is having an opening balance of N7bn, or 4.3% of the budget proposal which the current administration have saved in the past seven months.

The key highlight of the budget include construction of kwara State innovation hub for information technology, large scale garment production factories, resuscitation of moribund industries, and construction of new (urban and rural) roads.

Also part of the budget include rehabilitation of public schools, capacity building for teachers, payment of UBEC contribution, rehabilitation of hospitals and health centers with provision of modern medical and laboratory equipment, payment of counterpart funds, and implementation of health insurance.

The government is also proposing construction of Ilorin Civic Center (Ilorin Visual Art Center), purchase of biometric finger prints and reader machines for prints and reader machines for e-auditing, commencement of e-Government, introduction of creative intervention fund for youth and graduates empowerment.

" We are also proposing provision of  statewide  irrigation Scheme, agricultural mechanisation, commencement of livestock transformation plan programme, and implementation of the kwara State Social Investment Programme among other things "

The Governor said that the budget estimates are predicted on the national oil price benchmark of $57 per barrel; oil production estimate of 2.18m barrels per day; official exchange rate of N305 per US dollar; Gross Domestic rate of 2.93 percent; and inflation rate of 10.81.

According to him, the budget estimates match the exact revenue projections for the state in the fiscal year, including N48, 943,215,564, PR 30.2 percent or the total revenue; VAT receipt of N16, 430,807,482 or 10.1 percent of the total revenue.

Other  sundry revenue valued at N3,838,863,505, or 2.3percent of revenue; internally Generated Revenue of N39,783,007,301 or 24.5 percent of the revenue, he said.

The Governor however called on all stakeholders in the State to make all the necessary sacrifices in other to build a new kwara that works for all.

He commended the members or the Assembly and the Kwara public for this support since he assumed office, calling for more support and sacrifice in the new year in he strategic interest of the state.