The Kwara State Governor, Alhaji Abdulfatah Ahmed, on Wednesday in Ilorin, presented an appropriation bill of N119.8bn to the Kwara State House of Assembly for consideration for 2015 fiscal year.
He stated that the amount showed an increase of N4.249bn over the 2014 revised appropriation which represents 3.7 per cent increase.
According to him, the 2015 Appropriation Bill is themed ‘Budget of Introspection and Job Creation.’
Ahmed stated that the budget is made up of recurrent expenditure N46.46bn which represents 39 per cent of the total budget size.
He added that the public debt servicing is N11.2bn while the capital expenditure is N62.1bn.
Ahmed said, “The proposed 2015 budget was prepared against the backdrop of a fragile global economic recovery and an uncertain
outlook. All of us are aware of the crumbling oil revenue in the global market which has resulted in the dwindling of our monthly
receipts from Federation Account Allocation.
“This implies that we should be more prudent in managing our limited resources as well as work harder, faster and proactively to diversify the state economy towards revenue yielding initiatives in order to reduce our dependence on the federation Account Allocation for meaningful development of the state.
“However, we remain resolute to get more young people working through a renewed emphasis on entrepreneurship.”
The governor said the state government made progress in the implementation of its 2014 budget based on the state government’s
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Has your govt created room for entrepreneurship among youths?
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