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Masari dedicates 70% of 2020 budget to capital expenditures

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The Governor of Katsina State, Aminu Masari, on Wednesday, presented a budget estimate of N249.5 billion to the state House of Assembly for the 2020 fiscal year, dedicating 69.70 percent of the total sum to capital expenditures.

The fiscal document, tagged “Budget of Reflection and Progress’’, according to Masari, was for the continuation of the restoration agenda and policies of his administration.

A breakdown of the budget indicates that N75.6 billion, representing 30.30 per cent of the budget, was for recurrent expenditure; while N173.9 billion, representing 69.70 per cent, was for capital expenditure.

The total estimate for 2020 is N48.7 billion higher than that of 2019.

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“It is important to note that the 2020 recurrent revenue has an increase of 17.91 per cent over that of 2019. Similarly, the recurrent expenditure in 2020 budget has an increase of about 23.72 per cent over that of 2019. This indicates that in real terms, the revenue will increase by about 17.91 per cent over that of 2019,’’ the governor said.

He further explained that the recurrent expenditure included personnel cost of N30.8 billion, overhead cost of N20.9 billion and consolidated revenue charges of N23.8 billion.

In his remarks, the Speaker of the House of Assembly, Alhaji Tasiu Maigari, said the House would invite Ministries, Departments and Agencies (MDAs) to defend the budget..

He however ssured the governor of speedy passage of the budget to enable government continue to provide dividends of democracy to the people of the state.

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