LOKOJA – 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 News Agency of Nigeria (NAN) reports that the estimate, tagged “Budget of Stability“, provided N60 billion, representing 54.49 per cent for capital expenditure and N50.1 billion, representing 45.51 per cent, for recurrent.
The governor said 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.
Wada said the implementation of the 2014 budget was hindered by inadequate funds which inhibited the completion of most of the projects earmarked by the government.
Responding, 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.
The News Agency of Nigeria (NAN) reports that N128.96 billion.was approved for the state in 2014. (NAN)