Politics
Breaking News: Kaduna Governor Unveils N458 Billion Budget To Legislative Assembly
Breaking News: Kaduna Governor Unveils N458 Billion Budget To Legislative Assembly....KINDLY READ THE FULL STORY HERE▶
Sani disclosed that the budget, named ‘Budget of Rural Transformation for Inclusive Development,’ allocates N318.8 billion to capital expenditure and N139.4 billion to recurrent spending, maintaining a capital-to-recurrent ratio of 69.57% to 30.43%.
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Education takes the lead with N115.4 billion, constituting 25.19% of the budget, while the health sector receives N71.6 billion, accounting for 15.63% of the total allocation. Presenting the budget to lawmakers, the governor emphasized the focus on capital spending in line with the Sustain Agenda of his administration.
“To this end, we propose to spend N115.4 billion or 25.19% on education, N71.6 billion or 15.63% on health, and the sum of N93.5 billion, which is one-fifth of the budget or 20.42%, is allocated to the economic sector, including agriculture, public works and infrastructure, and housing,” he stated.
The recurrent expenditure breakdown includes personnel cost at N74.9 billion, overhead cost at N39 billion, and public debt charges at N25 billion, totaling N139 billion. The net recurrent revenue is projected at N85.9 billion.
“Transfer to capital budget recurrent revenue stands at N225.3 billion, and less recurrent expenditure N139 billion, while recurrent budget surplus amounts to N85.9 billion. The total capital Budget amounts to N318.8 billion, with agriculture allocated N22.5 billion; business, innovation, and technology N1,247,820,401.08; housing and urban development N7,944,705,910.23; and public works and infrastructure N57,131,513,937.34. The total for the sub-sector: Economic stands at N88,873,910,283.75.”
In response, the acting Speaker, Henry Danjuma-Magaji, assured that the House would thoroughly examine the budget, providing constructive insights to enhance its impact on the lives and livelihoods of the state’s residents.
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Source; Bushradiogist
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