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Layi Olanrewaju,Ilorin
Kwara State government executive council has approved the slashing of the 2020 budget from N162,487,666,170 to N114, 791,853,968, which represents a 29.4 per cent decrease from the earlier approved sum.
Commissioner for Communications, Harriet Afolabi-Oshatimehin, in a statement said the reduction was a fallout of dwindling revenue arising from COVID-19 pandemic and steep global economic slowdown.
He said the Governor had, yesterday, forwarded the document to the House of Assembly.
“At a virtual meeting presided over by Governor AbdulRahman AbdulRazaq, the cabinet approved the presentation of the revised appropriation bill 2020 to the Kwara State House of Assembly. The budget prioritises completion of ongoing capital projects and first-line charges, such as payment of salaries, gratuities and pension, and social spendings targeted at curbing abject poverty,” he said.
The new budget allocated N46.9 billion to capital expenditure, down from the N89.4billion earlier budgetted, while N67.8billion would now be spent on recurrent expenditure, down from N73billion in the appropriation law. The proposal adjusted revenue to the state to N104billion, down from the N150.2billion in the approved budget.
