Governor Abdulrahman Abdulrazaq of Kwara State, on Thursday, sent the 2020 revised, supplementary estimates to the state House of Assembly for approval.
The total budget size after the review stands at N114,791,853,968 as against the initial 2020 approved estimates of N162,487,666,170 representing 29.3 percent decrease.
Highlights of the proposed revised estimates showed that 2020 approved total recurrent revenue estimates was N116,616,221,683 while the federation account and other expected revenue from the Federal government now stand at N79,700,661,054 representing 31.9 percent decrease from the entire approved 2020 estimates.
On the revised recurrent expenditure, the approved 2020 total recurrent expenditure was N73,019,962,400 with N43,596,259,283 as transfer to Capital Development Fund.
Following the review, the new total recurrent expenditure has now been reduced to N67,836,309,108 while the total transfer to Capital Development Fund has also been reduced from N43,596,259,283 to N11,864,351,946 representing 7.1 percent decrease.
DAILY POST reports that the revised capital estimates in the approved 2020 total capital estimates were N89,467,703,770 but now reduced to N46,955,544,860 representing 47.5 percent reduction.
Analysis of the 2020 revised recurrent and capital expenditures showed that the revised total expenditure is now N5,181,228,957 for recurrent debt, N46,955,544,860, for total capital expenditure, while N62,655,080,151 is for recurrent non-debt.
