channelstv.com
Kogi State Governor Capt. Idris Wada has presented a drafted 2015 budget estimate of N110.2 billion to the Kogi State House of Assembly for consideration and approval.
The balance budget wish has a recurrent expenditure of N50.15 billion representing 45.51 per cent while capital expenditure is put at N60.05billion representing 54.49 per cent.
The budget, tagged ‘Budget of Stability’, Wada said is N18.7 billion (14.5%) lower than last year’s budget which he said will be financed from traditional sources – ‘internally generated revenue statutory revenue allocation, reimbursement from the federal government as well as bond from capital.
Though the sub-sector allocation was not given in his presentation, Wada said it will cover administration, economic, law and justice and social sectors with each sectors having 64.22%, 7.04%, 6% and 22.71% respectively.
Governor Wada, however, said the reduction in the drafted budget was due to the dwindling fortunes of the federation account.
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