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Katsina Budgets N201bn For 2019

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Katsina State government has proposed N200, 741,960,745 with 73.4% or N52, 741,287,930 capital expenditure and 26.3% or N148, 000, 672, 815 recurrent expenditure for 2019 fiscal year.

Presenting the financial estimates tagged: “The Budget of Stabilization,” to the State House of Assembly yesterday, the state governor, Aminu Bello Masari, said in aggregate terms, the 2019 budget is lower than that of 2018 by N12, 894,812,633.

“The total amount projected to finance the 2019 budget is the sum of N139, 373,773,735 which comprises N9, 720,368,000 as internally generated revenue, N28, 556, 405, 735 as other internal revenue and N101, 100, 000, 000 as revenue receivable through the Federation Account.

“It is important to note that the 2019 recurrent revenue has decreased by 17.7% over that of 2018 budget. Similarly, the recurrent expenditure in the 2019 budget has increased by 1% which indicates that in real terms the revenue has decreased by about 18.7% over that of 2018 fiscal year,” he stated.

A breakdown the budget shows that regional development is allocated N57, 212, 724,805 or 39% followed by social sector with N41,754,810,840 or 28% and economic sector with N34,353,449,640 or 23%. No less than N5, 755,567,530 or 4.1% is earmarked for debt servicing while administration sector will gulp N5, 925,120,000 or 4% among others.

The Restoration Plan of the Masari administration which comprises programmes, projects and policies to be implemented under education, health, water resources, agriculture, environment, works, housing and transport sectors of the state government, according to the governor, had been allocated N108,046,934,855 or 73% of the 2019 budget.

His administration, he said, is yet to finalise negotiation with Islamic Development Bank through the Federal Ministry of Finance in respect of soft loan and grant to finance a four year project under the Health Sector Reform Plan of the state government, but to that effect, a provision of N9.3 billion is reflected in the 2019 budget estimates pending the actual formalisation of the agreement.

Reviewing last year’s budget performance, Masari noted that as at 30th September, 2018, the state government collected a total revenue of N49,693,403,969.99 in addition to opening bank balance from 2017 fiscal year of N15 billion making a total sum of N64, 693,403,969.99.

“The total expenditure of N83, 213,324,966.17 includes ‘uncashbacked releases’ in the sum of N18, 519,920,966.18 of which the sum of N11 billion was ‘cashbacked’ in October, 2018,” Masari said.

Receiving the budget, the Speaker of the Katsina Assembly, Yahaya Abubakar Kusada, lauded the performance of the present administration as impressive in spite of challenges of revenue generation and high expectations of the populace and called on the various ministries, departments and agencies in the state to abide by their budget schedules to ensure speedy passage of the 2019 budget.



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