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Kaduna State Gov El-Rufai Presents Budget Of N216.5bn For 2018 To Assembly
Posted by :Aliyu MuhammedPosted date : October 13, 2017In News, PoliticsComments Off on Kaduna State Gov El-Rufai Presents Budget Of N216.5bn For 2018 To Assembly
Gov. Nasir El-Rufai of Kaduna State on Thursday presented an Appropriation bill of N216.5 billion for the 2018 fiscal year to the state House of Assembly.
El-Rufai, in the budget tagged, “Budget of Consolidation”, explained that N131 billion was earmarked as capital expenditure, representing 60.5 per cent, while N85 billion was set aside for recurrent expenditure, representing 39.4 per cent.
According to him, capital expenditure is allocated 60 per cent because of the administration’s resolve to spend more and invest in the people.
“Under capital expenditure, the Social Sector received the largest chunk of N51.4 billion; Economic Sector, N38 billion; General Administration, N26 billion; and Real Sector, 14 billion.”
He said that the Social Sector, comprising education, health and social development took the lion share of 39.2 per cent of the budget so as to promote social justice through human capital development.
“We envisage starting the year with an opening balance of N10 billion with internally generated revenue of over N42 billion and statutory allocation from Federation Account of over N34 billion.
“The recurrent expenditure estimate for 2018 are projected to be broken down as, public desk charges, that is payment of loans and other facilities estimated at over N4 billion with consolidated revenue fund charges at over N1 billion.
“Others include, personnel cost, N40 billion; overhead cost, N44 billion; and 10 per cent statutory transfers from the state to local government areas, totaling over N85 billion.
“The breakdown of the capital account for 2018 as projected would be transfers from the recurrent budget surplus of over N2 billion and over N13 billion from value added tax.
“Others are over N800 million as internal loans as well as N89 billion as external loans, internal grant at over N9 billion while external grant stands at over N4 billion.”
He added that the state would raise over N11 billion from sales of government quarters.
Receiving the budget estimates, the Speaker of the assembly, Alhaji Aminu Shagali, assured of the assembly’s commitment to diligently scrutinise the document for the benefits of the people of the state.
Shagali said that legislative arm would support the executive in ensuring peace and social justice in the state.
He added that the House would ensure that the budget meet the yearnings and aspirations of the people.
The News Agency of Nigeria (NAN) reports that the government had earlier proposed N201 billion as 2018 budget, but N15 billion was added after receiving inputs from citizens during a town hall meeting.