Kwara State Governor Abdulfatah Ahmed on Tuesday presented a budget proposals of 116 billion for the 2016 fiscal year.

Ahmed presented the budget document to the state’s House of Assembly for consideration and approval.

The budget christened “Budget of Sustained Expansion” was made up of Recurrent Expenditure of over N48.1billion, representing 42 per cent of the total budget size.

Capital Expenditure stands d at N57.5 billion representing 49% of the total budget size while N10.1 billion was budgeted for public debt servicing ,representing 9 per cent of total budget size.

A break down of the budget showed that Education sector got the lion share of over N30billion.

Presenting the budget before the lawmakers,the governor said” it was premised on current realities of time.”
According to him,”budget of sustained expansion underlines our determination to implement those programmes stalled by lack of funds in the outgoing year.

“It also underscores our resolve to birth new programmes and projects in order to expand opportunities for collective prosperity and economic empowerment for all, especially job creation for our youth. While the financial crisis facing our country is serious.

“Budget of sustained expansion focuses on opportunities: Opportunities for growth, for new investment, for renewed agribusiness, for  strong entrepreneurship and for direct and indirect jobs”.

He said the budget will be financed from funds acruing to the state from statutory monthly revenue, the proposed N20 billion bond to be accessed from capital market and Internally Generated Revenue (IGR).