The Kwara 2019 Revised Supplementary budget Estimate of N135,159,772,167 has passed second reading at the Kwara House of Assembly.
The News Agency of Nigeria (NAN) reports that the new budget estimate is representing 15 per cent decrease when compared with the budget of the immediate past administration
The supplementary budget was against N157,802,032,651 earlier approved by the 8th Legislature as 2019 budget of the state in Dec. 2018.
The Supplementary Budget was sent to the House for consideration and passage by Gov. AbdulRahman AbdulRasaq on July 27.
The motion for the second reading of the bill was moved by the Kwara Assembly House Leader, Olawoyin Abubakar-Magaji, which enjoyed the support of all members at the plenary.
Leading debate on the bill, the House Leader called for the accelerated passage of the bill, to enable the state government to embark on meaningful activities that would further improve the well-being of the residents of the state.
Other members, who contributed lauded the foresight of the state governor and called for proper monitoring of the capital expenditure, so that the budget can achieve the intended purpose.
The Clerk of the House, Hajiya Halimah Perogi later read the budget for the second time
The Speaker of the Kwara Assembly, Danladi Yakubu-Salihu, directed the Finance and Appropriation Committee of the House, to work on the budget for further legislative action.
According to the Supplementary budget, the Revised Recurrent Revenue, is now N97,221,983,006 as against N121,846,573,912 earlier approved, representing 21 per cent decrease.
Revised Capital Estimate is also now N62,810,026,813 against N79,594,046,011, representing 21 per cent reduction.
The Recurrent Expenditure is now N72,349,746,354,with N24,872,236,652 as transfer to Capital Development Fund, against N78,207,986,550 with N43,638,537,912 as transfer Capital Development Fund earlier approved, representing 8% decrease