by Ajadi Daniel
According to the governor, the government envisaged revenue accruals of N79.3 billion, but contrary to this, as at October 2016, only N43.1 billion was realized. This is just 54.35% of the total expected revenue for 2016.
The sum of 24.68 billion was spent on recurrent items while N18.42 billion was spent on capital projects.
The governor said that the state revenue accruals for 2016 budget assumptions were premised among other revenue sources, on government determination to access the second tranche of the N10 billion bond from the capital market, N10 billion Federal Government Infrastructure Development Loan as well as N1 billion Commercial Bank Loan. However, the government was only able to access N16.1 billion comprising Infrastructure Development Loan of N10 billion and 6.1 billion budget support facility of the Federal Government, respectively.
Despite the dearth of revenue, the governor said his administration was able to meet the people’s aspiration especially in the areas of rural roads construction, healthcare delivery, markets development, water and power supply, education and agriculture among others. He said some of these projects have been completed and commissioned during the year under review.
Recurrent spending according to the governor continue to grow and override capital expenditure, thus it accounted for about 31% of the government total spending against 23% capital expenditure in the 2016 fiscal year.
The governor was not explicit in his analysis of the 2016 budget performance. The reason why YMonitor has continued to advocate for open budget and government system, in such a way to encourage transparency and accountability. His allusions about some projects for the year is nothing more than a passive and in sentence statements that are not explicit.
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