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.

Police Commissioner     Raliat AbdulRazaq     Ishola Moses Abiodun     Raji Ayodele Kamaldeen     Ali Ahmad     Jeunkunu-Malete-Bani     Alliance For Democracy     Madawaki     Mahmud Durosinlohun Atiku     Sabi     Saheed Akinwumi     COVID-19 Palliatives     Kwara 2023     Firdaos Amasa     Okin Group     EFCC     Towoju     Biliaminu Aliu     Abegunde Goke     Bola Tinubu     11th Galadima     Hauwa Nuru     Dan Masanin     Maimunat Oniyangi     Senior Ibrahim Suleiman     Kwara Poly     Sa\'adu Salau     Ilorin     Razak Atunwa     Oladipo Akanmu Tolani     Coronavirus     Oluwole Dupe     Victor Gbenga Yusuf     Oloje     Aro Yahaya     Ilorin Emirate     Muritala Olarewaju     Makama Of Ilorin     Oloruntoyosi Thomas     Yomi Adeboye     Kwara Coalition Of Business And Professional Associations     Ghali Muhammed     Gbenga Awoyale     Sa\'ad Alanamu     Funmilayo Oniwa     Omu-aran     ARMTI     Kwara Muslim Pilgrims Welfare Board     Toyin Falola     Abdulmajeed Abdullahi     Bayo Ojo     Women Radio     Kawu     Ahmad Olayiwola Kamaldeen     Sa\'adu Gambari     Erubu     Bolaji Nagode     Usman Alkali Baba     Monsurat Omotosho     Mopelola Abdulmaliq-Bashir     Monthly Sanitation Exercise     Aisha Buhari     Adamu B. Yaqubu     Sherif Sagaya     Gwanara     Mohammed Lawal     Bashir Omolaja Bolarinwa     N-Power     Yusuf A. Usman     Alanamu     Idris Amosa Saidu     Mahee Abdulkadir     Lasiele Alabi Yahaya     Babaita     Olosi Of Osi     Abdulraheem Yusuf     John Olajide Adedipe    

Cloud Tag: What's trending

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

Abdulkareem Alabi     Abubakar Olusola Saraki     Afusat Nike Ibrahim     Sidikat Alaya     Mahmud Durosinlohun Atiku     Ayobola Ipinlaiye     Bamidele Adegoke Oladimeji     Damilola Yusuf Adelodun     Ishak Mohammed Sabi     Pacify Labs     United Nigeria Congress Party     Micheal Imodu-Ganmo Road     Esinrogunjo     Col. Ibrahim Taiwo     Computer Based Test     Matthew Babaoye     Babajide Ajayi     Laduba     Abdulrahman Abdulrazak     Niguel Gallando Marcias     Bello John Olanrewaju     Kunle Suleiman     Haashim Initiative For Community Advancement     Rapheal Ashaolu     Ita-Nmo Market     Jani Ibrahim     Bature Bello     Tinubu     Saidu Isa     Ibrahim Gambari     IEDPU     Yusuf Babatunde Abdulwahab     Yoruba     Saduki Lafiagi     Ilorin Curfew     Afonja Descendants Union     Aliyu Umar     Babaloja-General     TVC Female National Debate     Baba Issa     Coalition Of Kwara North Groups     Durosinlohun Kawu     Garba Dogo     ASKOMP     FERMA     Kwara Pdp     Oke-Ode     Yusuf Lanre Badmus     Isaac Aderemi Kolawole     Bola Tinubu     Kwara United     Law School Scholarship     Joseph Offorjama     CCT     Adedayo Yusuf Abdulkareem     Toyin Saraki     Wasiu Odewale     John Obuh     Yoonus Lawal     Gabriel Fashanu     Adamu B. Yaqubu     Wahab Isa     Offa Poly     Ben Duntoye     Abioye Bello     Wahab Olasupo Egbewole     Ramadhan     Ebola     Maryam A. Garuba     Wasiu Onidugbe     Balogun Ajikobi     National Information Technology Development Agency     Abdulrahman Abdulrasak     Adisa Logun     TESCOM     AbdulGafar Tosho     Alumni Association Of The Federal Polytechnic Offa