LEGISREPORTS NG – Governor Ibrahim Shema of Katsina State on Wednesday signed the state’s 2015 appropriation bill of N110 billion to law.
A breakdown of the budget showed that N34.6 billion or 31 per cent is earmarked for recurrent expenditure, while N75.4 billion or 69 per cent is for capital expenditure.
The News Agency of Nigeria quotes Shema as saying that the 2015 budget was N3.4 billion lower than that of 2014 following the crash of the price of crude oil in the international market.
Shema said that government would pay more attention to Internally Generated Revenue to enable it meet up its financial obligations.
The governor also promised to complete all the ongoing projects in the state before handing over to the next administration.
Shema said his administration did not borrow funds either locally or internationally to finance projects in nearly eight years of his administration.
Earlier, the Speaker of the State House of Assembly, Alhaji Umar Gwajo-gwajo, said the budget had a surplus of N114.5 million.
Gwajo-gwajo urged ministries, boards and agencies to intensify efforts toward enhancing their IGR following the dwindling price of crude oil.
He said the House would continue to collaborate with the executive arm in providing more dividends of democracy to the citizenry.
The Speaker also urged people of the state to continue to be law abiding during the 2015 general elections and beyond.