Governor Abdulrahman Abdulrazaq presented the #296.46 billion budget estimate for the 2024 fiscal year to the Kwara State House of Assembly on December 15th, 2023.
Sectoral Allocation is as follows:
- EDUCATION: #47.76 Billion (16.0 % of Budget)
Breakdown
- #16.37 billion – Amount provisioned for Ministry of Education and Human Capital Development (capital expenditure)
- #10.54 billion – Amount provisioned for Kwara State Teaching Service Commission (Recurrent expenditure)
- #4.23 – billion Amount provisioned for Kwara State University Malete (Kwasu) (Recurrent expenditure)
- #1.04 billion Amount provisioned for Kwara State Polytechnic, Ilorin.(Recurrent expenditure)
- #6.62 billion Amount provisioned for Ministry of education and its agencies, departments, schools and colleges (Recurrent Expenditure)
- TERTIARY EDUCATION: #9.17 Billion (3.09% of Budget)
- #187.57 million Amount provisioned for Ministry of Tertiary Education (Recurrent expenditure)
- #2.62 billion Amount provisioned for Research and Development, Kwara State Polytechnic, Ilorin(TETFUND) Donor assisted
- #2.5 billion Amount provisioned for Research and Development, Kwara State University Malete(TETFUND) donor assisted
- #500 million Building of CBT centers across 3 senatorial district
- #799.99 million completion of Kwasu satellite campuses at Osi and Ilesha Baruba
- #200 million Amount provisioned for purchase of Aircraft Basic Equipment for International Aviation College
- #2.36 billion Amount provisioned for several other projects under Ministry of Tertiary Education
- HEALTH: #32.34 billion (10.94 % of Budget)
- #4.72 billion Amount provisioned for personnel Salaries for Ministry of Health and its agencies (Recurrent Expenditure)
- #9.85 billion Amount provisioned for Neglected Tropical Diseases. Donor Assisted (capital expenditure)
- #4.17 billion Amount provisioned for Federal Ministry of Health(NPI Activities) (capital expenditure)
- #3 billion Amount provisioned for Construction of Health care infrastructure
- #10.6 billion several other expenditure within the ministry of Health and Kwara State Health Insurance Agency (capital expenditure)
- GENERAL PUBLIC SERVICE: #48.97 billion (16.52 % of Budget) – This includes amount provisioned for Office of Secretary to State Government, Kwara State House of Assembly, Office of Head of Service, Auditor General for state and local government, Judiciary(courts), and several other Ministries and Commissions used in administration (Capital expenditure)
- ECONOMIC SECTOR: #117.84 billion (39.75% of Budget) – This cuts across the Ministry of Business, Innovation and Technology, Ministry of Agriculture, Ministry of Finance, Ministry of Works, Ministry of Planning and Economic Development. and other MDAs.
| EXPENDITURE (# ‘bn) |
TOTAL EXPENDITURE
#296.46 ‘bn
Total Revenue=#248.03 ‘bn |
REVENUE (# ‘bn) | ||||
| 34 % | Non-Debt recurrent expenditure | 101.27 | Opening Balance | 25.0 | 8 % | |
| 5 % | Debt service & sinking fund | 15.16 | Government Share of FAAC | 125.46 | 42% | |
| 61 % | Capital expenditure | 180.03 | Independent Revenue | 69.98 |
24 % |
|
| Aid and Grant | 27.59 | 9 % | ||||
| Deficit | 48.43 | 16 % | ||||
Note: % expressed in relation to total spending plan
Assumptions
- 15% growth in PAYE
– Sakariyah Suleiman is a public policy analyst. He can be reached via email: [email protected]