Presenting the budget estimates, Gov. Ganduje explained that out of the total budget, N117, 710, 626, 881 billion was for capital projects while over N79, 972, 726, 788 billion was asset aside for recurrent expenditure.
Tagged ‘Budget of Sustainable Social Development’, he explained that the 2020 proposed budget had a decrease of N16,209,513, 632 billion lower than that of 2019, representing 12 percent.
“The proposed capital expenditure for the 2020 fiscal year is N117,710,626,881, which is lower than that of 2019 by N16,209,513,632 representing 12% decrease and it is to be financed by N63,972,273,222expected Recurrent Revenue surplus and total capital receipts of N53,783,353,659”.
“The Capital Receipt is made up of estimated Grants and aids of N25,989,884,251,expected Internal and External loans draw-down is N23,112,500,000, estimated Miscellaneous receipts of N4,446,269,408 and Treasury opening balance of N234,700,000,” Ganduje stated.
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According to him, “the total projected Recurrent Revenue for the year 2020 is estimated at the sum of N143,900,000,000 which consist of N40,000,000,000 as Internally Generated Revenue (IGR) and N76,000,000,000 as revenue from the Federation Account.
The total recurrent revenue is lower than that of year 2019 by N14,762,668,707 representing 9% decrease. It is important to note that the projected Internally Generated Revenue (IGR) is lower than that of year 2019 by N6,901,030,760 representing 15% decrease.
Dr. Ganduje disclosed that the Ministry of Education would receive the lion share of N49. 9 billion, representing 25. 23 percent to allow for critical projects such as the government’s free and compulsory education policy.
This is followed by the Works and Infrastructure sector, N33. 8 billion, Governance and Service delivery, N33. 7 billion, Health N30. 7 billion, Water Resources, N15 billion and Judiciary, N7. 9 billion.
In his remarks, the Speaker, Kano State House of Assembly, Alhaji AbdulAziz Garba Gafasa, assured the commitment of the House to work with the executive to move the state forward.
He added that the Assembly would conduct a public hearing on the budget to ensure that all stakeholders are carried along in the governance of the state.
Source: Channel TV