The Kwara State House of Assembly has approved a total Twenty Twenty-Six budget size of six hundred and fifty-six billion, five hundred million naira, representing an increase of ten billion, five hundred million naira over the initial estimate presented by Governor AbdulRahman AbdulRazaq.
The Speaker of the House, Engineer Yakubu Danladi Salihu, disclosed this following the consideration of the report of the House Committee on Finance and Appropriation.
A breakdown of the revised budget shows that the state’s recurrent revenue has increased to over four hundred and nine billion, six hundred million naira, reflecting an upward review of about ten billion, five hundred million naira.
Sobi FM Correspondent Toyin Saheed report that the Speaker during the resolution said the house after scrutiny the document as required by the law, resolved to have realistic budget size that can be implemented to the overall benefits of all kwarans.
The Speaker further explained that transfers to the Capital Development Fund have been raised to two hundred and seventy-one billion naira, up from two hundred and fifty-four billion naira, to boost funding for capital projects across the state.
He added that total debt servicing for the Twenty Twenty-Six fiscal year now stands at fourteen billion, two hundred million naira, slightly higher than the earlier proposal.
