The Kwara State Government said it spends the sum of N3.383bn on personnel cost for the months of October, November and December of 2019 as against the N10.68bn expended in the third quarter which includes the months of July, August and September of the same year.
In the fourth quarter of 2019 report released by the Ministry of Planning and Economic Development, it shows a decrease of about N7.297bn despite the inauguration of political officers in late December which falls on the 4th quarter of the year.
Instead of a rise in the fourth quarter’s expenditure, as against the third quarter, due to the wages of the newly constituted cabinet members, it decreases astronomically.
Also, the Overhead Cost was N24bn in the 3rd quarter while less than 10bn in the 4th quarter.
LOAN
In the recent document released by the Kwara Government, it was discovered that the domestic debts profile of the State stands at N63bn, however, it’s unknown as to the plan of the government on the issue of new debt, though Analyst believe that it will take up to seven (7) years to settle the current domestic debt in the absence of taking a new one putting the Monthly repayment to the tune of N600million.
OBSERVATION
•Huge decrease of over N7bn in the fourth quarter, with a full cabinet member as against the third quarter with a few political officers.