Kwara Assembly Receives Supplementary Budget : Downward Review Estimates of N156bn
Written by Uthy on November 14, 2018
The Kwara State Governor, Alhaji Abdul Fatah Ahmed, has forwarded 2018 Supplementary Budget Estimate to the State House of Assembly, for legislative approval.
The Speaker, Dr. Ali Ahmad gave this indication, while reading a message from the Governor, titled “Presentation of Revised/Supplementary Budget Estimates 2018 for legislative approval” at the floor of the House.
The supplementary budget which is contained in a message dated October 30, 2018, is now N156,043,339,799 as against N190,997,425,571 representing 19% decrease.
Revised Recurrent Revenue is N93,025,713,031 against N122,829,612,016 representing 25% decrease.
The revised Recurrent Expenditure which was N80,308,252,137, with N42,521,359,879 as transfer to Capital Development Fund has reduced to N73,389,398,906 representing 3% reduction from this year’s approved Estimate.
Revised Capital Estimates according to the Speake,r is now N77,653,940,893 as against N110,689,173,434, representing 30% decrease.
The Speaker, who directed the House Leader, Hon. Hassan Oyeleke to lay the Revised Appropriation Bill on the Table of the House said that as a money bill, the reading of the message of the Governor served as the First Reading of the Bill and mandated the House Committee on Business and Rules to Slate the Bill for debate on its general principles at another legislative day.