BY ANDY ASEMOTA, Katsina –
Governor of Katsina State, Aminu Bello Masari yesterday presented a total budget of N211, 497,191,095 for 2018 fiscal year to the Katsina State House of Assembly.
The financial estimates tagged: “Budget of Actualisation,” is higher in aggregate terms than that of 2017 by N71, 335,098,405 with 75.7 per cent or N160, 087,369,485 capital expenditure and 24.3 per cent or N51, 409,821,610 recurrent expenditure.
“The total amount projected to finance the 2018 budget is the sum of N167, 634,213,235 which comprises of N10, 277,897,500 as Internally Generated Revenue and N131, 100,000,000 as revenue receivable through the Federation Account,” he said.
According to him, the recurrent revenue of the budget rose by 30 per cent over that of 2017 budget, while the recurrent expenditure in the 2018 estimates indicated 17.4 per cent increase in real terms.
A breakdown of the budget showed that the six high priority areas of the ‘Restoration Agenda’ of the Masari administration took over N134 billion or 63 per cent as education received a lion’s share of N42, 429,876,688 or 20 per cent followed by health with N23, 851,673,930 or 11 per cent and road with N23, 522,427,472 or 11 per cent, water resources, N19, 004,131,570 or 9 per cent, agriculture, N14, 168,645,095 or 7 per cent and environment, N11, 331,000,000 or 5 per cent.
The sectoral allocation of the N160 billion capital expenditure of the budget however showed that regional development topped the estimates with N52,147,554,470 or 32.4 per cent, leaving social sector with N47,177,920,958 or 29.5 per cent, economic sector N42,850,309,852 or 26.8 per cent, debt serving, N7,340,012,2015 or 4.6 per cent, administration, N6,837,544,000 or 4.3 per cent, contingency N2.680,000,000 or 1.9 per cent, judiciary N691,250,000 or 0.4 per cent and legislature N302,778,000 or 0.2 per cent.
Similarly, the N51.4 billion recurrent expenditure of the budget is broken into three components with personnel cost taking N24,662,182,760 or 48 per cent, overhead cost N12,087,061,315 or 23 per cent and consolidated revenue charges N14,660,577,535 or 29 per cent.
Reviewing 2017 budget performance, Masari said the state collected N49,771,405,187.34 in the past 10 months in addition to opening balance from 2016 fiscal year of N18,568,364,325.40, making a total sum of N68,339,769,512.74.
“The performance on capital services as at 31st October, 2017, is 55 per cent against the 32.3 per cent recorded around the same period in 2016,” he added.
Receiving the budget, the Speaker of the Assembly, Abubakar Yahaya Kusada, assured that the lawmakers would immediately commence the scrutiny of the appropriation bill for speedy passage for more dividends of democracy to their constituents.
Kusada however called on the chief executives of all MDAs to cooperate with the House and its standing committees as they examine their budgetary provisions to ensure a hitch free budget defence exercise.
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