Katsina State Governor, Aminu Masari, on Wednesday, presented a budget of N282.78 billion for the 2021 fiscal year to the State Assembly.
The estimate is higher than the 2020 revised budget by N101.1 bn. While presenting the proposal before state lawmakers, Masari explained that he was proposing a recurrent expenditure of N86.4 bn representing 30 per cent of the budget and a capital expenditure of N196.1 or 70 per cent of the total estimate.
He said, “The total budget for the 2021 fiscal year is in the sum of N282.78 with 70 per cent capital expenditure and 30 per cent recurrent expenditure.
“In aggregate terms, the 2021 Budget is higher than that of the 2020 revised budget by N101,157,587,479.00.
“The 2021 budget is structured with a total recurrent expenditure of N86,426,087,744.00 which is equivalent to 30 per cent of the total budget and capital expenditure of N196,161,842,911.00 which is 70 per cent of the total budget.”
He further explained that the 2021 budget estimate tagged “Budget of Recovery and Consolidation” is designed to complete ongoing projects and initiate other capital projects that can be completed within the life of his administration.