El-Rufai Presents N216Bn Budget
Governor Nasir el-Rufai of Kaduna State on Thursday presented the 2018 budget estimate of N216.55bn to the state House of Assembly.
Christened ‘Budget of consolidation,’ el-Rufai said it was structured to complete ongoing and other projects the government would be undertaking.
He said in keeping with the tradition of the government, the budget maintained a priority for capital projects with a vote of N131.bn representing 60.54 per cent, while the recurrent expenditure was N85,440,998,051.95 representing 39.46 per cent.
“The 2018 revenue and expenditure estimates are based on a robust medium-term expenditure framework, which assumes a $42 benchmark price for oil at production levels of 1.8 million barrels per day, 17.5 per cent inflation, 1.9 per cent projected real GDP growth and an exchange rate of N305 to a Dollar,” he said.
He added that at N51.4bn, education, health and social development received 39.2 per cent of the N131.1bn capital budget; education got 25 per cent at N33bn, while health was awarded N17bn (12 per cent) of capital.
The Speaker of the state assembly, Aminu Shagali, while commending the governor for his timely presentation, said he and his colleagues would scrutinise the draft budget for quick passage into law.