By Ibrahim Shuaibu in Kano
Governor Abdullahi Umar Ganduje of Kano State has presented an appropriation bill of N209, 857,330,488 for the 2017 fiscal year to the state House of Assembly for ratification.
Presenting the budget tagged “Sustainable Self-Reliance” on Wednesday, he explained that it consists of N130,486,682,677 for capital expenditure while the sum of N79, 370,647,811 is for recurrent undertakings.
“The proposed capital expenditure for the 2017 fiscal year is N130,486,682,677 which is less than that of 2016 by N59,861,393,873 and it is to be financed by N64,329,872,216 expected Recurrent revenue surplus and total capital receipts of N66,156,810,461”, Ganduje explained.
According to him, the capital receipt is made up of N7,190,528,060 expected internal and external loans drawdown, N26,202,301,276 estimated Grants, N32,563,981,125 Miscellaneous receipts and Treasury opening balance of N200 million.
The total projected Recurrent Revenue for the year is estimated at the sum of N143,700,520,027 which consist of N46,010,415,132 Internally Generated Revenue (IGR) and N97,690,104,895 Revenue from the Federation Account (FAAC).