Kwara State Governor, Alhaji Abdulfatah Ahmed on Thursday presented the sum of N157.5bn as the budget estimate for 2019 fiscal year.
Laying the budget before the State Lawmakers at the floor of Kwara State House of Assembly, Governor Ahmed said the estimate shows a marginal increase of N1.4bn which represents one per cent compared to the 2018 revised budget.
Out of the total budget size, the sum of N77.7bn or 49% is for recurrent expenditure while the amount of N79bn which represents N51% is for capital expenditure.
On the sectoral allocation of the budget, the Economic affairs sector has the highest distribution of N54.5bn which represents 34.6% of the total budget followed by the General Public Service Sector with N35.6bn which represents 22%, while Education has 18% and Health sector got 17.5%.
Governor Ahmed said the 2019 budget proposal is hinged on Zero-Based Budgeting to ensure prudent utilisation of revenue.
According to him, “the objectives of the Budget include expanding the Internally Generated Revenue (IGR) capacity of the state through land administration and electronic collection for sustainable development; creating an enabling environment for investors through improved infrastructural development; developing human capital development and job and wealth creation.”
Gov. Ahmed maintained that the overall objective of the Budget is to consolidate on the gains of the past years and to ensure completion of all on-going projects across to ensure good welfare of the citizenry.