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El-Rufai Presents Budget Of N216.5bn For 2018 | The Precision

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El-Rufai signing the 2017 appropriation bill
Governor of Kaduna State, Nasir El-Rufai has presented an
Appropriation bill of N216.5 billion for the 2018 fiscal year to the
state House of Assembly.

El-Rufai, in the budget tagged, “Budget of Consolidation”, explained
that N131 billion was earmarked as capital expenditure, representing
60.5 per cent, while N85 billion was set aside for recurrent
expenditure, representing 39.4 per cent.
According to him, capital expenditure is allocated 60 per cent
because of the administration’s resolve to spend more and invest in the
people.
“Under capital expenditure, the Social Sector received the largest
chunk of N51.4 billion; Economic Sector, N38 billion; General
Administration, N26 billion; and Real Sector, 14 billion.”
He said that the Social Sector, comprising education, health and
social development took the lion share of 39.2 per cent of the budget so
as to promote social justice through human capital development.
“We envisage starting the year with an opening balance of N10 billion
with internally generated revenue of over N42 billion and statutory
allocation from Federation Account of over N34 billion.
“The recurrent expenditure estimate for 2018 are projected to be
broken down as, public desk charges, that is payment of loans and other
facilities estimated at over N4 billion with consolidated revenue fund
charges at over N1 billion.
“Others include, personnel cost, N40 billion; overhead cost, N44
billion; and 10 per cent statutory transfers from the state to local
government areas, totaling over N85 billion.
“The breakdown of the capital account for 2018 as projected would be
transfers from the recurrent budget surplus of over N2 billion and over
N13 billion from value added tax.
“Others are over N800 million as internal loans as well as N89
billion as external loans, internal grant at over N9 billion while
external grant stands at over N4 billion.”
He added that the state would raise over N11 billion from sales of government quarters.
Receiving the budget estimates, the Speaker of the assembly, Alhaji
Aminu Shagali, assured of the assembly’s commitment to diligently
scrutinise the document for the benefits of the people of the state.
Shagali said that legislative arm would support the executive in ensuring peace and social justice in the state.
He added that the House would ensure that the budget meet the yearnings and aspirations of the people.
The government had earlier proposed N201 billion as 2018 budget, but
N15 billion was added after receiving inputs from citizens during a town
hall meeting.
NAN

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