The Kwara State House of Assembly has given its nod to the 2024 appropriation bill amounting to ₦292,741,292,132.30, a reduction of ₦3,716,583,446 from the initially proposed ₦296,457,875,578.00.
Governor AbdulRahman AbdulRazaq presented the budget to the legislative arm last December, with the House concluding its review and passing it into law after the adjustment.
Acknowledging the diligent efforts of his colleagues, management, and staff, particularly the appropriation committee chaired by Hon. Fatimoh Arinola Lawal
The Speaker, Rt. Hon. Engr. Yakubu Danladi-Salihu expressed commendation during the plenary session on Wednesday. He emphasized the importance of ensuring substantial implementation of the budget to yield value for public funds expended.
The Speaker disclosed that the passed budget allocates 61% to Capital Expenditure and 39% to Recurrent Expenditure, aligning with the newly introduced budget template of the Nigeria Governors’ Forum (NGF) in line with global best practices. Kwara State’s legislature, once again, leads in adopting these progressive measures, consolidating its forefront position among state legislatures in the country.
Rt. Hon. Danladi-Salihu highlighted the state’s compliance with Fiscal Transparency, Accountability, and Sustainable; SFTAS program in past budgets, reaping benefits until the program’s conclusion in the first quarter of 2023.
He lauded the state’s full adaptation of the National Charts of Accounts for the 2024 budget, aligning with the State Action on Business Enabling Reforms; SABER, positioning Kwara for potential intervention funds from the Economic reform program.
The Speaker also commended Governor AbdulRazaq for the economic expansion-focused budget, anticipating it will build on the administration’s achievements and foster continuous growth and development in the state.
He acknowledged the governor’s commitment to paying counterpart funds for overall development across various sectors.