Gov. Idris Wada of Kogi on Wednesday presented the state budget of N110.2 billion for the 2015 fiscal year to the state House of Assembly. The proposal tagged “Budget of Stability“, provided N60 billion for capital expenditure and N50.1 billion for recurrent. According to Wada, the budget would focus on the completion of on-going projects, expansion of the state revenue base, provision of coded classifications for enhanced transparency and proper accounting in public expenditure. Other areas of focus, he said, include reduction of domestic debt, provision of environment conducive for investment and the integration of proper accounting and budgeting control mechanism at state and local government levels. According to Wada, the implementation of the 2014 budget was hindered by inadequate funds which made it impossible to complete most of the projects earmarked by the government. In his remarks, the Speaker, Alhaji Momo-Jimoh Lawal, lamented that the budget was presented late in the year, but pledged that the members would work extra hard to approve it within a reasonable time. ”We shall work extra hard to pass the budget at record time for you to commence in earnest the phase one of your transformation agenda in the New Year, “ he said.
Posted on: Thu, 01 Jan 2015 12:41:37 +0000
Trending Topics
Recently Viewed Topics
© 2015