Governor Abdulrahman Abdulrazaq of Kwara State presented the 2025 budget proposal, worth N540.37 billion, to the State House of Assembly on Friday.
The budget emphasizes completing ongoing projects, starting new ones, and improving social programs for residents.
The proposed budget allocates 62.1% to capital projects and 37.9% to recurrent spending.
It is based on an oil price of $75 per barrel, daily production of 2.06 million barrels, and projected GDP growth of 6.4%.
Funding sources include 48.1% from FAAC receipts, along with internally generated revenue (IGR), capital receipts, and an opening balance of N62 billion making up 51.9%.
Social sector: 32.5% of the budget, with education getting 16.2% and health 10.56%. Plans include establishing a new University of Education and strengthening existing institutions.
Ministry of Works and Transport: 17.51%, for ongoing road construction and maintenance.
Governor Abdulrazaq assured that the budget reflects a commitment to fulfilling promises, highlighting successes from the 2024 budget in infrastructure, healthcare, education, and social protection.
Speaker Yakubu Danladi-Salihu praised the governor’s achievements, citing transparency and fiscal discipline.
He promised a thorough and speedy review of the proposal, ensuring legislative support for its implementation.
The Speaker also acknowledged the state’s improved standing in education, health, and agriculture due to investments in counterpart funding for development partnerships.
