by Usman Alabi
The governor presented the budget last Thursday to the state’s House of Assembly
The proposed budget is N69.3 billion
The budget is tagged: “Budget of Consolidation and Self reliance”,
It represents N19.5 billion or 22 per cent lower than the 2016 budget which was N88.9 billion
The governor said the state is expecting N35.3 billion from statutory allocation, N3.8 billion from IGR and N7.4 billion from VAT.
Other sources of funding the budget includes Excess Crude Oil money N2.5 billion, grants of N3.5 billion, external loans of N490 million, Internal loans of about N12.3 billion, Miscellaneous expectations of about N1.5 billion, as well as funds from the treasury opening balance of about N500 million
The sum of N27.407 billion or 39.5 per cent would be spent on capital expenditure, while the sum of N41.9 billion or 60.5 per cent is earmarked for recurrent expenditure
The ministry of education in the state had the highest sectoral allocation of N17.7 billion followed by the Ministry of Works with N10.7 billion and Ministry of Finance with N10.3 billion.
This is probably the lowest state budget so far, what do you think about this budget?, let us have your take