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Kwara Assembly passes N187.2bn Revised Supplementary budget

Kwara Assembly passes N187.2bn Revised Supplementary budget 

The Kwara House of Assembly has passed the N187.2 billion Revised Supplementary budget estimate forwarded by Gov. AbdulRahman AbdulRazaq.

News Agency of Nigeria

The revised fiscal policy was passed after considering the report of the House Committee on Finance and Appropriation on “Revised Suplementary Appropriation 2022 Bill”.

The report was submitted by the Chairman of the committee, Mr. Ibrahim Ambali (APC-Owode/Onire).

Ambali noted that the approved Revised Budget Estimate was against the sum of N187.5 billion initially proposed, indicating a decrease of N308.3 million.

He said Capital Expenditure is now N86.9 billion against N89.3 billion originally proposed, while proposed Recurrent Expenditure stands at N83.7 billion against the sum of N81.6 billion as total debt servicing of N16.5 billion is retained as proposed.

The 2022 revised supplementary budget estimate was read the third time by the Clerk of the House prior to its eventual passage.

The Speaker, Mr. Yakubu Salihu, directed Clerk of the House, Hajia Halimah Kperogi, to produce a clean copy of the Revised Budget Estimate for the governor’s assent.

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