Ahmed proposes N11.9b budget for 2015

ILORIN-The governor of kwara state ,Alhaji Abdulfatah Ahmed on Wednesday presented a budget proposal of N119.8billion to the state House Assembly for consideration for the incoming 2015.

Themed budget of introspection and job creation”,the governor said 5000 new jobs will be created while the state government will sustain the existing 5,200 youth engaged under it QuickWin

programme stressing that an additional 319 persons will be engaged under the scheme.

Governor Ahmed while presenting the bill before the law makers on the floor of the House,also said that Recurrent expenditure would gulp N46billion representing 39 per cent of total budget size.

He added that over N11billion will go for public debt servicing representing 9 per cent of the total budget size while capital expenditure will take the chunk of the budget to the tune of N62.1billion representing 52 per cent of the total budget size.

The governor also pointed out that the budget showed an increase of over 4billion over the 2014 revised appropriation which represents 3.7%.

The governor said, the budget was premised “on fragile global economic crisis and uncertain outlook”,added that,”Our determination to complete on-going projects and improve the quality of life of the people of Kwara State informed the increase”.

On how to source for funds to finance the budget,the governor said the state government will embark on aggressive drive of increasing its Internally Generated Revenue,blocking leakages and ensuring prudent management of resources.

He however added that the government had “no intention to impose multiple taxes” on the people .

The governor said it would also source for N23billion bond from the capital market which will be repaid in 2020.

Speaker of the house Barrister Rasag Atunwa who said with governor personally laying the budget bill before the law makers,it has automatically passed through first reading in accordance with rules 66 (1b) of the house.

He called on the majority leader of the House, Hon Abdulkareem Abdulganiyu to move a motion for the adjournment of the house till 18th December during which the budget proposal shall be consider for a second reading.

- -Vanguard News