Kwara budgets N296.4bn for 2024

Kwara State Governor AbdulRahman AbdulRazaq on Thursday laid before the House of Assembly a N296.4 billion fiscal plan for 2024.

In the estimate christened ‘Budget of Economic Expansion and Collective Prosperity’, the capital expenditure takes the lion’s share of N180.0bn, representing 61% of the total fiscal plan, while the recurrent component got N116bn, or 39%.

He said the budget will be funded from the internally generated revenue and receipts from the federation accounts, among other channels.

AbdulRahman added that “This document is predicated on the estimated crude oil price of $77.96, daily oil production of 1.78 million barrel per day; exchange rate of N750/USD; GDP growth projection of 3.76 per cent and 21.4%  inflation rate.

The governor, who is also the Chairman of the Nigerian Governor’s Forum (NGF), informed the House that the Ilorin City Master Plan will produce a Smart City Satellite Town, which will cover an area estimated at 18,000 hectares.