Governor Abdulrahman Abdulrazaq of Kwara State today Wednesday (November 30, 2022) presented a State Budget of One Hundred and Eighty-Nine Point, Four billion for Twenty Twenty-Three Fiscal Year at the Kwara State House of Assembly, Ilorin.
The budget was tagged Budget of Economic Expansion and Sustainable Development with a recurrent expenditure of Forty-Nine Point One Percent and Capital component of Fifty-Nine Point Nine Percent.
The Governor said the key assumptions are oil price of Seventy dollars per barrel, daily oil production estimate of One Point Six Nine million barrel per day exchange rate of Four Hundred and Thirty-Five naira.
He enumerated the funding windows of the budget which include federal allocations, internally generated revenue, grants, and other capital receipts.
The Governor explained that the Twenty Twenty-Three Appropriation is to strengthen the current gains built around the Kwara State Sustainable Development Plan Twenty Twenty-Three-Twenty-Thirty Medium Term Sector Strategy and Citizens Need Assessments.
Governor Abdulrazaq said the budget places more emphasis on continuous infrastructural development, completion of ongoing road projects, agribusinesses, irrigation and mechanisation, workers’ welfare, rural electrification, and improved water reticulation, among others.
Earlier in his remark, Speaker, Rt. Hon. Engr. Yakubu Danladi Salihu acknowledged the achievements of Governor Abdulrazaq in critical sectors and assured the executive arm of good working relationship.
Engr. Salihu thereafter referred the Appropriation Bill to House Committee on Rules and Business to slate the bill for second reading.
The Twenty Twenty-Twenty-Three Budget Presentation was attended by Deputy Governor, Mr Kayode Alabi, Chief Judge, Ag. Grand Khadi, Members of State Executive Council, Traditional Rulers and Political Associations.
