From Olanrewaju Lawal, Ilorin
The Kwara state Governor, Alhaji Abdulfatah Ahmed has presented N119,850,892,747 billion as 2015 budget before the House of Assembly.
The Governor, who presented the budget on Wednesday and titled it “Budget of Introspection and Job Creation” said the proposed budget was increased with over N4 billion compare to 2014 budget.
Out of the budget, Governor Ahmed informed the House that his administration would seeks for N23billion bond from capital market to finance the sub-sectors due to fall in federal allocation stressing that if it doesn’t work out,N20 billion loan would be sought for at the Commercial banks.
He disclosed that if the N23 billion bond was approved, the state will completed repayment by year 2022.
“The budget is made up of Recurrent Expenditure of Forty-six billion, Four hundred and sixty-million, nine hundred and thirty-seven thousand, One hundred and eighty-seven naira which represents 39% of the total budget size.
“The Public Debt Servicing is Eleven billion, two hundred and fifty-two million, two hundred and thirty-two thousand, seven hundred and ninety-four naira which represents 9% of the total budget size.
“The Capital Expenditure is Sixty-two billion, one hundred and thirty-seven million, seven hundred and twenty-two thousand, seven hundred and sixty-six naira which represents 52% of the total budget size.
“The proposed 2015 budget is informed by the need to accomplish more for our people and accelerate the pace of work in the on-going projects in all the priority sectors of the state economy so as to ensure their completion.
“The budget will equally support the private and our emerging entrepreneurs to grow their businesses, create wealth and generate employment.”
Governor Ahmed disclosed that 30 public schools across the state noting that more jobs would be created for youths, while five technical colleges in the state would be rehabilitate to serve as centres for Ajase-Ipo Vocational Centre which would absorb it first students next year.