The Kwara State Governor, Abdulfatah Ahmed, has presented a budget estimate of 116,164, 043,000 naira to the state House of Assembly for the 2016 fiscal year.
The estimate is a decrease of over 1.5 billion naira over the 2015 revised appropriation which represents 1.3% decrease.
Out of the estimate, the budget is made up of recurrent expenditure of over 48 billion, over 10 billion naira for the public debt service while over 57 billion is earmarked for capital expenditure.
Tagged the budget of sustained expansion, the State Governor, Abdulfatah Ahmed, who laid the budget before the state lawmakers, said that the budget proposal was based on zero-budgeting approach for ministries, departments and agencies to justify all their expenditure needs in line with the prevailing economic situation in the country.
According to him, the total projected revenue estimate from all available sources to the state for 2016 fiscal year is over 116 billion naira.
Governor Ahmed also said that the 2016 Kwara budget holds great opportunity for the state and country, despite the challenges ahead.
He called on residents of the state to continue to cooperate with the government in its effort to elevate the state and contribute their quota to the development of the state.