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Kaduna Releases 2016 Audited Accounts

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Leadership Nigeria News Today

BY  MSUE AZA, Kaduna
The Kaduna State government has published its 2016 audited accounts in national newspapers, as well as on the state website.
The audited accounts show that during the year under review, the combined revenue of government grew from N65 billion in 2015 to N74 billion in 2016 representing an increase of 13%.
A statement signed by Governor Nasir el-Rufai’s spokesman, Samuel Aruwan, explained that the Federal Allocation (Statutory and VAT Allocation) plummeted by 1.8% from N51.7 billion in 2015 to N50.8 billion in 2016.
According to the statement, in the period under review, the state strengthened its capacity to raise revenues as a result, Internally Generated Revenue (IGR) spiked by 69.8%, from N13.6 billion in 2015 to N23 billion in 2016.
“In absolute terms, the aggregate decline in Federal Allocation (N0.94 billion) is ten per cent of the growth in IGR (N9.5 billion). Put in another way, the absolute increase in IGR is over one thousand per-cent of the decline in Federal Allocation,” it said
The commissioner for Finance Suleiman Abdu Kwari, said that the growth in IGR “Is an impressive and commendable streak in performance over just a 12month budget year. The total IGR collected is the highest in the history of the state. It is a significant advance towards the government’s ultimate target of being able to fund all its recurrent costs and wages solely from IGR.
“Factors responsible for the decline in federal allocation ranged from the drop in the hydrocarbon-dollars to the unrest in the Niger Delta.”




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