The budget tagged “Budget of Transition and Inclusive Growth (V)” is pegged at N215,465,835, 418.00. It shows a 4.26 % drop from last year’s estimate which the governor explained is as a result of dwindling economic fortunes of the country.
He said, “The budget will be funded from internally generated revenue, statutory revenue allocation, SURE-P, expected reimbursement from the federal government and expected capital receipts.”
The governor also explained that “recurrent expenditure estimate is Ninety-Two billion, four hundred and ninety four million, three hundred and thirty five thousand, eight hundred and twenty-two naira, N92,494,335,822.00.”
The recurrent expenditure represent 42.93 percent of the total budget while the capital budget pegged at One hundred and twenty-two billion, nine hundred and seventy-one million, five hundred and ninety six naira only, N122,971,499,596 representing 51.07 percent.
He stressed that the capital budget will focus on the completion of ongoing projects.
Source: Leadership.ng
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