El-Rufai Presents 2018 Budget To State Assembly

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File photo: Governor Nasir El-Rufai

The Kaduna State Governor, Nasir El-Rufai has presented a budget proposal of N216.5billion to the State Assembly for 2018 fiscal year.

The State Executive Council had on October 9, 2017 approved the 2018 budget estimates for presentation to the state assembly.

The N216.5bn budget is broken down into N85.4billion (39.46%) recurrent expenditure and N131.1bn (60.54%) capital expenditure.
While N33illion (25%) is earmarked for education, the health sector is expected to gulp N17.5billion (12%) while N941.5million is earmarked for social development.

In the proposal, the Ministry of Environment and that of water resources also got N3.455billion and N11.211billion respectively.

According to Governor El-Rufai, the 2018 revenue and expenditure estimates are based on a robust medium-term expenditure framework (MTEF) which he notes, assumed a $42 benchmark price for crude oil pegged at production levels of 1.8million barrels per day, 17.5percent annual inflation, 1.9% projected real GDP growth and an exchange rate of N305 for the US dollar.

He however reassured the state government’s commitment in delivering on its promises while commending the lawmakers for their dedication and cooperation with the executive.

“In 2016, we recorded the highest ever annual capital expenditure in the history of the state, at N62bn. Internally Generated Revenue in the same year reached a peak of N23bn. We hope to build on these achievements to reduce our dependence on monthly federation account allocations.

“To achieve the goals outlined in our manifesto, we have published a record number of tenders for capital projects in the last 30 months.

“These procurements have resulted in the commencement of multiple projects across the state, in all our priority sectors. For instance, as at mid-2017, there were 443km of township roads and 16 intercity roads with a distance of 414.8km at various stages of completion.

“In addition, 17 rural feeder roads with distance of 172 km are being constructed. There are many schools being rebuilt, hospitals being upgraded and equipped, water works being refitted, rehabilitation centres being fixed.

“We are very proud to have initiated these projects in the interest of our people. And we have been clearheaded enough to take on inherited projects that we consider feasible and viable!

“We shall be prioritising completion of these projects in the coming year. We are in a time of consolidation, and the budget reflects this thrust. Development is a continuum, and we are building on the foundations we have laid in the preceding years.”

Responding, the Speaker of the Assembly, Aminu Shagali , commended the governor for his timely presentation of the budget, assuring him of the House’s continuous support towards ensuring progress, peace and development of the state.

The post El-Rufai Presents 2018 Budget To State Assembly appeared first on Channels Television.

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