Kwara Assembly Approves N130bn Revised Budget

Date: 2019-10-21

The Kwara State House of Assembly has approved N130,380,403,956 as the new revised total budget size of the State.

The approved sum by the lawmakers was against the initial N157,802,032,561, which showed a decrease of N27,421,628,605, representing 17.4 per cent.

However, the breakdown of the approved sum showed that the total revenue estimate of the 2019 budget now stands at N130,380,403,956 down from N157,802,032,561.

Also, the approved budget surplus of N43, 638,537,362 was scaled down to N27,187,810,159, a decrease of N16,450,737,203, representing 37.70 per cent.

On the capital receipts, the House revised the capital allocation to N57,117,155,413 as against N79,594,046,011, a decrease of 22,476,890,598.

This development according to THISDAY checks was sequel to the report of the House Committee on Finance and Appropriation on the Year 2019 Revised Appropriation Bill presented to the House by the Chairman of the Committee Hon Ambali Olatunji Ibrahim.

According to the Chairman of the Committee, the reduction of the budget size was necessary to enhance the state chances of benefitting maximally from the benefit derivable by the state from, "the State Fiscal Transparency, Accountability and Sustainability Programme for Result (SFTAS) open to all states with high/appreciable Budget implementation/performance, accountability, transparency and sustainability of their Budgets."

Meanwhile, considering the fact that there is little time left to the end of the year, a term loan of about N1.67bn was granted as against the initial N6.221bn proposed by the governor of the state, Alhaji Abdulrahman Abdurazaq.

The Speaker of the House, Rt Hon Yakubu Danladi Salihu, in his remarks commended the House Committee on Finance and Appropriation for doing a thorough work on the budget review.

Salihu directed the Clerk of the House, Hajia Halimah Jummai Kperogi to forward a clean copy to the State Governor for assent.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Monsurat Omotosho     Overland     Abubakar Aliagan     Hameed Oladipupo Ali     Towoju     Mopelola Abdulmaliq-Bashir     Www.Kwarareports.com     Tunde Saad     Oyeyemi Olasumbo Florence     Oniyangi Kunle Sulaiman     Doyin Agbamu     Kwara Poly     Saeedat Aliyu     Hassanat Bello     Olatunji Bamgbola     Kunle Akogun     Sulyman Abdulkareem     Chief Imam Of Offa     Wahab Kunle Shittu     Aliyu Alhassan     Iqra Books     Balogun Fulani     Shoprite     Ileloke     Soffiyyallah Kamaldeen     Adamu Attah     Abdulwahab Olarewaju Issa     REO CAKES     KWIRS     Abdulrahman Onikijipa     Garba Dogo     Sa\'adu Salahu     United Nigeria Congress Party     Folaranmi Aro     Law School Scholarship     Simeon Sule Ajibola     Labaeka     Oyedun Juliana Funke     Ayotunde Emmanuel Alao     Bisi Kristien     Hijab     Tunji Folami     Mogaji Aare     Olabimpe Olani     Oye Tinuoye     Minimum Wage     Idi-Ape     Offa     Ilorin Emirate Stakeholders Forum     Adebara     Olatunde Olukoya     Abiodun Oyedepo     Ilorin South Constituency     Jamiu Oyawoye     Mohammed Haruna     Muideen Olaniyi Alalade     Ahmed Bolaji Nagode     Akom Construction And Engineering Synergy Ltd     Idowu Laro     Chief Of Staff     Tescom.kwarastate.gov.ng     Yusuf Amuda Gobir     Sa\'adu Salau     Ibrahim Abdullahi     Chikanda     Dasuki Belgore     Toyin Saraki     Kwara State Council Of Chiefs     Kale Kawu     Rotimi Atere     Air Peace     Abdulganiy Abimbola Abdussalam     Saka Onimago     Oasis Muslim Care Foundation     Abdulwaheed Musa     SDP     Kishira    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Ishola Balogun Fulani     Www.Kwarareports.com     Babatunde Idiagbon     Abdulrasheed Lafia     Mahmud Babatunde Baker     Awili Pedro     Budo-Egba     Adesoye     Shuaib Jawondo     Usman Alkali Baba     Tunji Oyawoye     Senate     Frootify     Towoju     Yekini Adio     Sola Saraki Educational Foundation     Aliyu Kora Sabi     Hassan Abdulazeez Elewu     Yusuf Ali     Lawyers Unite Against Corruption     NFAI     NIPOGA     Ibrahim Mohammed     Pakata     Joseph Alex Offorjama     Olohungbebe     Fatai Adeniyi Garba     Baruba     Salihu Jibril Garbi     Baakini     CT Ayeni     Magaji Erubu     Medinat Folorunsho Salman     Suleiman Abubakar     New Model Police Station     Dan Iya Of Ilorin     Hamidu Olowo     Yunus Oniboki     CACOVID     Awodun     Eleja Taiwo Banu     Nigerian Medical Association     Sheriff Olanrewaju     Arinola Fatimoh Lawal     Yaman     CACOVID Palliatives     Kannike     Minimum Wage     Basic Education Certificate Examination     Abdullahi Adisa Akodudu     Saadu Gbogbo Iwe     Manzuma     Ijagbo     Katibi Ibraheem Adeola     Garment Factory     Umaru Saro     AGM Professional Services     Ramadhan     Joseph Yemi Ajayi     Ronke Adeyemi     Kudirat Arinola Lawal     Sunday Fagbemi     Dauda Adesola     Nnazua     Press Release     Owo Arugbo     Split Diamond Interchange     Dan Iya     Saheed Alakoso     Asiwaju Bola Tinubu     Umar Ahmed Gunu     Ahmad Olayiwola Kamaldeen     Eghe Igbinehi     Edu     Bolaji Gambari     Ahmed Bayero     Sheikh Alimi