Posted by By ANDY ASEMOTA, Katsina on
Governor Ibrahim Shehu Shema of Katsina State has presented over N62 billion budget for this fiscal year to the state house of assembly. The surplus budget is made up of about N42.7 billion or 70 per cent as capital expenditure and N17.2 billion or 29 per cent for recurrent expenditure.
Governor Ibrahim Shehu Shema of Katsina State has presented over N62 billion budget for this fiscal year to the state house of assembly.
The surplus budget is made up of about N42.7 billion or 70 per cent as capital expenditure and N17.2 billion or 29 per cent for recurrent expenditure.
Describing the 2008 Appropriation Bill as 'Budget of Consolidation", Shema said the budget will be financed with statutory revenue allocation of N41.5 billion or 90.8 per cent from Federal Government and an estimated Internally Generated Revenue of N4.2 billion valued about nine per cent.
The 2008 recurrent revenue shows a decrease of N3.58 or 7 per cent over the 2997 recurrent revenue of N49.2 billion, the governor stated.
A break down of the capital expenditure for this fiscal year further shows that social sector is allocated N13,9 billion or 33 per cent followed by economic sector with N13.3 or 31 per cent and regional development sector with N9.6 billion or 23 per cent.
The sum of N3, 5 billion or eight per cent of the proposed sect oral allocations goes to administration while judiciary and legislature receive N195 billion and N500 billion respectively.
According to the governor, the state proposed N10.4 billion for personnel costs, N4.9 billion for overhead costs and N2.1 billion for consolidated Revenue Fund Charges under estimated recurrent expenditure for the year.
The budget, he noted, would continue to accord priority to revenue generation and wealth creation while focusing on education, economic empowerment, resource development, health care delivery, agriculture and transport.
He stressed that the achievements recorded by the immediate past administration in the state informed his decision to focus on the crucial areas.
‘Despite the inter-regnum of transition, we have recorded 70 per cent of the (2007)
Capital budget performance. This performance has consolidated the gains achieved in repositioning the state', he declared
Receiving the budget, the Speaker of the House, Umar Gwajo Gwajo, hailed the focus of the budget, saying it would reduce unemployment and create an enabling environment for the private sector to promote the industrial development of the state.