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Katsina feels pinch as oil prices tumble

17 December 2014, 09:03Augustine Osayande

Abuja - The Katsina State Government has lowered its budget for the upcoming year as a result of the falling price of oil.

The state has appropriated the sum of more than N110 billion for the year, which is N3,4 billion lower than in 2014.

Governor Ibrahim Shema, has presented the Appropriation Bill to the House of Assembly.

It has been tagged the “budget of accomplishment.”

Shema said the difference was due to shortfall in revenue to the state as result of fall in oil price.

He added that the 2014 budget was 86 percent implemented.

Also Read: Jonathan warns spending at risk due to falling oil price

According to the governor, capital expenditure for the 2015 budget stands at N75,6 billion which account for 69 percent of total budget, while recurrent expenditure is N34.5 billion or 31 percent of entire budget.

He said the economic sector would gulp N20 billion, regional development
N26 billion, social services N1,3 billion, while legislature is to get
N170 million.

The governor added that the budget would focus on delivery of social services through education, infrastructure, health services, and agriculture, among others, even as he urged the house to expedite action and pass budget in good time.

He called on ministries, departments and parastatals to prepare to defend their budgets.

He assured the governor of speedy passage of the budget for the development of the state.

Shema said the house would continue to collaborate with the executive arm to provide more benefits of democracy to the people.

- CAJ News


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