Ahmed Presents N119b Budget Proposal for 2015

Date: 2014-12-18

Governor AbdulFatah Ahmed of Kwara on Wednesday presented a sum of N 119,850,892,747 as 2015 budget of the state before the state House of Assembly for consideration and passage into law.

The budget which was tagged budget of introspection and job creation represent an increase of N 4,623,000,000 over 2014 revised budget which represent 37 percent of the total budget size.

According to the Governor, the capital expenditure of the budget is N 62,760,000,000 which represent 52 percent of the total budget size.

The projected revenue in the budget is N 150,892,747.

The expected revenue from VAT is N 7.5 billion while expected revenue from non oil sector is N 2.5 billion.

The Governor said the 2015 budget would also be financed through a bond of N23 billion to be sourced from the capital market

Governor Ahmed while reviewing the 2014 budget expressed satisfaction with the performance of the budget.

He said the state government will further improve on its IGR and would not impose taxes that would affect well-being of the masses.

The budget immediately sailed through the first reading immediately after the laying of the bill before the assembly.

The House later fixed Thursday for the second reading of the bill.

 

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