Elrufai presents 2019 budget news
Here's a summary of the 2019 budget presentation by Nasir el-Rufai, the Governor of Kaduna State, Nigeria:
Date: November 15, 2018 Location: Kaduna State House of Assembly Complex, Kaduna
Key Highlights:
- Budget Size: The 2019 budget is N253.8 billion, representing a 15.4% increase from the 2018 budget of N220.1 billion.
- Revenue Projections: The state government expects to generate N173.8 billion in revenue, with a deficit of N80 billion to be financed through borrowing.
- Capital Expenditure: The budget allocates N123.8 billion for capital projects, representing 48.7% of the total budget.
- Recapitalization of State-Owned Enterprises: The budget provides for the recapitalization of state-owned enterprises, including the Kaduna State Water Corporation, Kaduna State Electricity Company, and the Kaduna State Transport Company.
- Infrastructure Development: The budget prioritizes infrastructure development, with allocations for road construction, rehabilitation of schools, and provision of healthcare facilities.
- Agriculture and Rural Development: The budget allocates N10.8 billion for agriculture and rural development, aimed at promoting agricultural production and improving the livelihoods of rural dwellers.
- Education: The budget allocates N43.8 billion for education, representing 17.2% of the total budget.
- Healthcare: The budget allocates N23.8 billion for healthcare, representing 9.4% of the total budget.
- Security: The budget allocates N10.8 billion for security, aimed at enhancing the security of lives and property in the state.
- Fiscal Discipline: The budget emphasizes fiscal discipline, with a focus on reducing the state's debt profile and improving its financial management.
Quotes from the Governor:
- "We are committed to delivering a budget that is people-centered, pro-poor, and pro-growth."
- "We will continue to prioritize education, healthcare, and infrastructure development to improve the lives of our citizens."
- "We will also focus on promoting agricultural production and rural development to reduce poverty and improve the livelihoods of our rural dwellers."
Reactions:
The 2019 budget presentation received mixed reactions from stakeholders in Kaduna State. While some welcomed the emphasis on infrastructure development and education, others expressed concerns about the high debt profile of the state and the potential impact on the economy.