The Kwara House of Assembly on Tuesday passed the 2015 budget estimates of N122,440,346,343 billion into law.
The budget increased with the sum of N2,589,453,596 billion representing 2.16 per cent against N119,850,892,747 billion initially presented in December 2014 by Governor Abdulfatah Ahmed.
The budget was passed into law following the adoption of the report of the House Committee on Finance and Appropriation
The report was presented by Hajia Raliat Adifa )APC, Lanwa/Ejidongari Constituency)
The capital expenditure approved is N64.142,722,766 against N62.137,722,766 presented representing 3.232 per cent increase.
The recurrent expenditure is now increase to N58,297,623,577 against N57,713,169,981 presented representing 1.012 per cent increase.
Recurrent revenue is now N60,645,183,915 against N60,055,730,319 earlier presented representing 0.98 per cent increase.
The new transfer to capital expenditure stands at N2,347,560,338 against N2,342,560,338 initially presented and it represents 0.2 per cent increase.
Adifa said the 2015 appropriation was noted for a serious challenge considering the instability in the international crude oil price.
She added that the benchmark for the presentation of the 2015 appropriation was $65 per barrel and has now fallen to about $45 per barrel.
She said the increase in the budget was connected with the state governor’s request to secure N2 billion micro, small and medium term loan from the window provided by the Central Bank of Nigeria
This she said would be used to grow the small and medium enterprises in the state.
It would be recalled that Governor Abdulfatah Ahmed had last week sought the approval of the House for the inclusion of N2 billion in the 2015 budget estimates.
The Deputy Speaker, Prof Gana Yisa who presided over Tuesday plenary, directed the Clerk, Mr Oyetunde Oyeniyi to read the bill for third time and it was consequently passed into law.
Yisa directed the Clerk to produce a clean copy of the bill and send to the governor for his assent.
Also on Tuesday at the assembly, Governor Ahmed has initiated a bill to block all revenue leakages and boost the state internally generated revenue.
Titled Kwara State Revenue Administration Bill, 2015,the bill was sent to the state House of Assembly in a message which was read by the Deputy Speaker.
The Governor in his message said the purpose of the bill was to establish Kwara State Internal Revenue Service with an increased efficiency and empowerment to block all revenue leakages.
The governor urged the House to give the bill the accelerated consideration and passage.
The Deputy Speaker consequently committed the bill to House Committee on Rules and Business for further legislative action.
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