Ahmed presents N119.8bn budget for 2015 to Kwara Assembly

Governor Abdulfatah Ahmed of Kwara State on Wednesday presented the budget of N119.8 billion for 2015 to the State House of Assembly for consideration and approval.

The News Agency of Nigeria (NAN) reports that the budget, tagged, ‘Budget of retrospection and job creation’, was N4.6 billion higher than 2014 budget or 3.7 percent increase in the total budget size.

According to the governor, the capital expenditure would gulp N62.1 billion or 52 percent of the budget while N46.4 billion was earmarked for recurrent expenditure or an increase of 39 percent.

Ahmed also said the budget has a debt profile of N11.2 billion which or nine percent of the total budget.

Ahmed also projected that N16.4 billion would be contributed from internally generated revenue (IGR), while the foreign and local aids for capital development amounted to N29.7 billion.

He said that the state would earn N33.6 billion from the Federation Account, N7.5 billion from Value Added Tax (VAT) and N2.5 billion from non oil/Excess Crude Account.

“The other anticipated source of revenue for funding the 2015 budget is from a bond of twenty-three billion naira to be sourced from the capital market and to be repaid back by 2022.

“We are also anticipating a term loan facility of seven billion naira from financial institutions in case the bond accessibility might delay, in order to ensure that we continue with our developmental projects”, he said.

The governor said the sum of N2.3 billion from recurrent revenue surplus would be transferred to capital development in case of any short fall in the budget.

Ahmed said the budget would be used to complete on-going projects in the state, adding that it would also support private and emerging entrepreneurs to grow their businesses.

A breakdown of the budget showed that the general public service took about 30 percent of the budget or N35.9 billion followed by the economic affairs with N35.5 billion or 29.7 percent.

Education came third with N24.1 billion or 20 percent of the total budget size followed by the health sector with 8.6 percent or N10.2 billion.

Ahmed said that 5, 000 youths would be employed in 2015 while another 5, 200 youths would be engaged in the quick win intervention programme.

He said fund for the economic affairs would be used to boost production and increase private sector participation in commercial agriculture.

The governor listed seven areas that the budget would concentrate on, under agriculture which include construction of modern agricultural analytical laboratory, off-taker demand agric scheme and rehabilitation of six animal health centers.

Ahmed also said that N4.7 billion would be committed in the construction and repairs of roads across the state.

He said that 30 schools would be given a face lift while five technical colleges would be rehabilitated to serve as incubation centers for the International Vocational Center in Ajase Ipo.

The others, slated for rehabilitation includes four Women Development Centers at Lafiagi, Kaiama, Shao and Bode Saadu for improve rural women vocational skills.
The rehabilitation of educational infrastructure, he said, would take N9.7 billion out of the N24.1 billion earmark for education sector.

The governor said a sum of N627.4 million was also earmarked to support the welfare of the judiciary and toward the promotion of vibrant justice administration system in the state.