El-Rufai proposes N245.4bn budget for 2020

El-Rufai proposes N245.4bn budget for 2020

- A N245.4bn budget has been proposed for the year 2020 by the governor of Kaduna state, Nasir El-Rufai

- The governor said when approved, the budget is projected to have a capital to recurrent ratio of 72 percent to 28 percent

- El-Rufai said most of the capital spending will be in the economic social sectors, amounting to about N144bn

A N245.4bn budget has been proposed for the year 2020 by the governor of Kaduna state, Nasir El-Rufai.

The governor made the disclosure on Saturday, October 12 during a town hall meeting on the 2020 draft budget estimates, Daily Trust reports.

Legit.ng gathers that El-Rufai, who was represented by his deputy, Hadiza Balaraba, said the recurrent expenditure is set at N62.9bn.

He said when approved, the budget is projected to have a capital to recurrent ratio of 72 percent to 28 percent.

He said in part: “The 2020 budget is conceived to accelerate the attainment of our governance agenda. We propose a budget size of N245.4bn. The capital component is N177.29bn, an unprecedented figure in absolute and percentage terms in the fiscal history of the state.

“With recurrent expenses set at N62.9bn, the 2020 budget, when approved, is projected to have a capital to recurrent ratio of 72% to 28%.

“Most of the capital spending will be in the economic social sectors, amounting to about N144bn. We propose to spend N68bn on public works and infrastructure.”

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Meanwhile, Legit.ng previously reported that a breakdown of the 2020 budget showed that Nigeria's seat of power, Aso Rock, will spend N45,678,552 on fueling the generating sets in the Presidential Villa.

A document seen also showed that chefs in the Villa will in 2020 prepare food for the first family and their guests with cooking gas worth N18.5 million. Refreshment and meals will cost N135,668,651, while welfare packages will cost N240,730,180.

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Source: Legit

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