Kano State Governor, Abdulahi Ganduje, on Thursday, presented a proposed N197,683, 353, 659 Appropriation Bill for 2020 to the State House of Assembly.
Ganduje, who made the presentation, explained that out of the total budget, N117, 710, 626, 881 was for capital expenditure while N79, 972, 726, 788 was set aside for recurrent expenditure.
The 2020 budget tagged: “Budget of Sustainable Social Development,” is N16, 209, 513, 632 lower than that of 2019.
The governor said: “The proposed capital expenditure for the 2020 fiscal year is N117,710,626,881, which is lower than that of 2019 by N16,209,513,632 represents a 12 percent decrease and will be financed by N63,972,273,222 expected revenue surplus and total capital receipts of N53,783,353,659.
“The capital receipt is made up of estimated grants and aids of N25,989,884,251, expected internal and external loans drawdown is N23,112,500,000, estimated miscellaneous receipts of N4,446,269,408 and treasury opening balance of N234,700,000.”
“The total projected recurrent revenue for the year 2020 is estimated at the sum of N143,900,000,000 which consist of N40,000,000,000 as Internally Generated Revenue (IGR) and N76,000,000,000 as revenue from the Federation Account.”
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