Masari presents N211.4bn 2018 budget

0
13

Katsina state governor, Aminu Masari on Monday presented the 2018 appropriation bill of N211.4 billion at the State House of Assembly.

Mr Masari, who presented the estimates in Katsina, said the budget was tagged “Budget of Actualization’’.

He said that the appropriation bill had a capital expenditure of N160 billion, representing 75.7 per cent of the total budget, while recurrent expenditure was put at N51.4 billion, representing 24.3 per cent.

The governor said that the projected Internally Generated Revenue, IGR, to finance the budget was N10.2 billion as well as N26.2 billion from other internal sources, while N131 billion was expected from the Federation Account.

He said that the 2018 recurrent revenue increased by 30 per cent, compared to the figure in 2017, just as the recurrent expenditure in 2018 increased by 17.4 per cent over that of 2017, which was 13 per cent.

The governor said that the personnel cost in the 2018 budget was N24.6 billion, overhead cost N12 billion, while consolidated revenue and other charges were N14.6 billion.

He said under capital expenditure, the economic sector received N42.8 billion; social sector, N47.1 billion; regional development, N52.1 billion, while administration received N6.8 billion.

Mr Masari said that judiciary was allocated N691.2 million; the legislature N302.7 million; while contingency had N2.6 billion and N7.3 billion was for debt servicing.

Education sector received the lion share of N42.4 billion, representing 20 per cent of the budget.

Responding, the Speaker, Abubakar Yahaya, promised to ensure speedy passage of the budget for people of the state to continue to enjoy the dividends of democracy.

Mr Yahaya said that the house would scrutinise the budget with the aim of making necessary amendments.

 

NAN

Nigerian Newspaper Nigeria News Nigerian Newspapers Naija News Nigerian News

Follow us on Twitter @daily_nigerian    Facebook: @dailynigerian

Copyright DailyNigerian.               
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without appropriate credit being given to //dailynigerian.com as the source.