Kwara State Governor, Abdulfatah Ahmed, has presented a budget estimate of N181,886,056,555.00 for the 2018 financial year.
Presenting the proposal to lawmakers at the Kwara State House of Assembly on Thursday, Governor Ahmed said the proposed budget reflects an increase of N15,781,009,150 or 9.5% compared to the 2017 Revised Appropriation.
Tagged “Budget of Sustained Growth and Prosperity”, the sum of N75,204,257,902 which represents 41.3% is for recurrent expenditure, while the sum of N106,681,798,630 which represents 58.7% is earmarked for capital expenditure.
“Under the recurrent expenditure, N46,567,379,761 representing 62% is allocated as overhead cost which includes subventions to parastatals, support grants and contributions including overhead cost of tertiary institutions in the state. Personnel cost is expected to gulp N13,918,001,894 or 18.5% of the total recurrent expenditure,” he said.
Kwara Governor Presents N181bn 2018 Budget
