Governor Abdulrahman Abdulrazaq of Kwara State on Wednesday presented a budget estimate of N189.4 billion before the House of Assembly for the 2022 fiscal year.
Abdulrazaq who tagged it “Budget of Sustained Reformation for Inclusive Growth” said it’s 12.5 per cent bigger than the revised budget of 2021.
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According to him, Capital expenditure stood at 55.3% (N101bn) while 44.7% (N84.7bn) is for recurrent expenditure adding that it focuses on completing ongoing projects and initiating new ones in the year.
He said “The size of the fiscal plan is N189.4bn representing a 12.15% increase over the 2021 revised budget.
“It has 44.7% recurrent component, with provisions for payment of consequential adjustment of the minimum wage.
“With 55.3% capital expenditure, the objective is to fund ongoing projects and initiate new ones as resources permit.
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