El-Rufai Presents N216. 5 Billion 2018 Budget Proposal
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Kaduna State Governor, Malam Nasir El-Rufai has presented a budget proposal of N216.5billion to the state assembly for 2018 fiscal year.
The State Executive Council had on October 9, 2017, approved the 2018 budget estimates for presentation to the state assembly.
The N216.5bn budget is broken down into N85.4billion (39.46%) recurrent expenditure and N131.1bn (60.54%) capital expenditure.
While N33illion (25%) is earmarked for education, the health sector is expected to gulp N17.5billion (12%) while N941.5million is earmarked for social development. Environment and water resources also got N3.455billion and N11.211billion respectively.
According to the governor, the 2018 revenue and expenditure estimates are based on a robust medium-term expenditure framework (MTEF) which he said assumed a $42 benchmark price for crude oil at production levels of 1.8million barrels per day, 17.5percent annual inflation, 1.9% projected real GDP growth and an exchange rate of N305 for the US dollar.
He however assured that the state government will stay focused on delivering on its promises while he commended the lawmakers for their dedication and service.
Responding, the speaker of the house, Aminu Shagali in his response thanked the governor for his timely presentation, assuring him of the house support towards ensuring progress, peace, unity and justice in the state.