Hottestgistnaija.com
Governor AbdulFatah Ahmed of Kwara on Wednesday presented a sum of N119 billion, 850 million,892, 000 amd 747 naira as 2015 budget of the state before the state House of Assembly for consideration and passage into law.
The budget which was tagged budget of introspection and job creation represent an icrease of N4 billion and 623 million over 2014 revised budget which represent 37 percent of the total budget size.
According to the Governor, the capital expenditure of the budget is N62 billion, 760 million which represent 52 percent. Of the total budget size.
The projected revenue in the budget is N150 million, 892,000 and 747 naira.
The expected revenie from VAT is N7billion and 500 million naira while expected revenue from non oil sector is N2billio and 500 million.
The Governor said the 2015 budget would also be financed through a bond of N23 billion to be sourced from the capital market
Governor Ahmed while reviewing the 2014 budget expressed satisfaction with the performance of the budget.
He said the state governmemnt will further improve on its IGR and would not impose taxes that would affect welbeing of the masses.
The budget immediately sailed through the first reading ommediately after the laying of the bill before the assembly.
The House later fixed Thursday for the second readoing of the bill.
