BY GODWIN ENNA, Katsina |
Governor Aminu Bello Masari of Katsina State has presented a budget proposal of N282,787,930,655.00 for the 2021 fiscal year and stressed his administration’s determination to strengthen the economic growth of the state which was affected by COVID-19 pandemic.
Masari, who presented the proposed budget to the State House of Assembly yesterday for consideration, said it was designed to complete the ongoing projects and initiate other capital projects that can be completed within the tenure of his administration.
Tagged ‘Budget of Recovery and Consolidation’, the governor said, “the
2021 budget is citizen-based budget due to the fact that prior to the budget preparation, citizens’ sensitisation was conducted and citizens were engaged to provide their inputs into the 2021 budget.”
“The total budget for the 2021 fiscal year is in the sum of N282,787,930,655.00 with 70% Capital Expenditure and 30% Recurrent
Expenditure. In aggregate terms, the 2021 Budget is higher than that of 2020 revised budget by N101,157,587,479.00.
“The 2021 Budget is structured with a total recurrent expenditure of N86,426,087,744.00 which is equivalent to 30% of the total budget and capital expenditure of N196,161,842,911.00 which is 70% of the total budget,” he said.
Explaining further that the total amount projected to finance the 2021 budget is the sum of N172,252,927,970.00 which comprises of N57,180,527,226.00 as internally generated revenue from Board of Internal Revenue, MDAs and balances of the 2020 Budget.
“The revenue receivable through the Federation Account is estimated at the sum of N115,072,400,744.00.
“It is important to note that the 2021 recurrent revenue has increased by 37.20% over that of 2020 Revised Budget. Similarly, the recurrent expenditure in the 2021 Budget has increased by 20.85% which indicates that in real terms the revenue has increased by about 37.20% over that of 2020 fiscal year,” the governor added.