Gov Wada presents budget of 130bn to Assembly

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From Adama John, Lokoja
GOVERNOR Idris Wada of kogi state has presented a budget proposal of N130.9billion to the state House of Assembly for the 2013 fiscal year with expected high source of income from the Capital market to finance the budget.
The budget which is tagged: “Budget of Transformation” is N4.7billion or 3.5percent higher than the approved budget of N126.2billion of the 2012 year ending.
Breakdown of the budgetshowed that N65.5billion is to be used for recurrent services while N65.4billion is to be expended on capital projects.
Governor Wada said that his administration would approach the capital market to secure bond to finance most of the capital projects listed in the 2013 budget considering the dwindling  federal allocation that will not be adequate to finance most of the projects.
However, he said that his administration would radically embark on aggressive internal revenue drive through effective tax system and the use of public-private partnership [PPP] to achieve most of the government policies and programmes.
The governor added that the budget would assist the government in wealth creation, employment generation, youth and women empowerment, sustainable growth and development and special focus on small and medium scale industries, stressing that the budget was well packaged to meet the yearnings and aspirations of the entire people of the state.
Priority projects to be embarked upon in the 2013 budget are, Agricultural [N2billion], Industrialization [N920million], Transport [N20million],  Road project [N300million], Housing project [N1billion], Education [N7billion] and Electricity [N1.3billion].
Others  include, Water [N5billion], Health [N5.4billion], Information, Sport and Youth development [N1billion] and General Administration [N13billion].

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