Governor AbdulFatah Ahmed of Kwara State, on Wednesday, December 17, 2014, at the House of Assembly, presented a budget of N119 billion, 850 million, 892,000 and 747 Naira for consideration and passage into law.
Tagged ‘Budget of Introspection and Job Creation’ represent an increase of N4 billion and 623 million 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 billion, 760 million which represents 52 percent of the total budget size.
The projected revenue in the budget is N150 million, 892,000 and 747 Naira.
The expected revenue from VAT is N7billion and 500 million Naira while expected revenue from non oil sector is N2billion and 500 million.
The Governor who said that the 2015 budget would also be financed through a bond of N23 billion to be sourced from the capital market while reviewing the 2014 budget, expressed satisfaction with the performance.
He said the state government will further improve on its IGR and would also not impose taxes that would affect the well being of the masses.
The budget immediately sailed through the first reading after the laying of the bill before the assembly.
The House later fixed Thursday for the second reading of the bill.