Metro

Ahmed Presents N119.850b Budget Proposal For Assembly Approval

Governor AbdulFatah Ahmed of Kwara on Wednesday, 17th December, 2014 presented a N119.850 billion budget proposal before the state House of Assembly for consideration and passage into law.

The budget which was tagged budget of introspection and job creation represented an increase of N4.623 billion over 2014 revised budget which represent 37 percent of the total budget size.

According to the Governor, the capital expenditure of the budget is N62.760 billion which represent 52 percent of the total budget size.

The projected revenue in the budget is N150.892 million.

The expected revenue from value added tax (VAT) is N7.500 billion while expected revenue from non oil sector is N2.500 billion.

The Governor said the 2015 budget would also been 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 the well being of the masses.

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

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

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