Sokoto Executive Council approves proposed 2015 budget of N112.5bn
By Abdallah el-Kurebe
The Sokoto State Executive Council today approved the government’s 2015 proposed budget of N112.5 billion.
Briefing news men on the outcome of the meeting, the Commissioner in charge of the ministry for Budget and Economic Planning, Alhaji Isa Bajini disclosed that of the amount, N61.7 billion is for Capital Expenditure while N50.8 billion is for Recurrent Expenditure.
Tagged “Budget of Consolidation,” the Commissioner explained that it was worked out based on the existing Nigerian economic realities. “This was occasioned by the dwindling revenue resulting from falling prices of crude oil and which affected the average monthly allocation from the Federation Account.”
While stating that the proposed budget would be submitted to the State House of Assembly by Governor Aliyu Magatakarda Wamakko for approval, Bajini added that the state government was working on other sources for internally generated revenue (IGR) to augment the allocation from Federation Account.
It would be recalled that the state government budgeted N125 billion for the 2014 fiscal year against which a supplementary budget of N3.6 billion was approved about two weeks ago by the state government.
Posted by Abdallah el-Kurebe