Governor AbdulRahman AbdulRazaq of Kwara State has unveiled a N540.37 billion budget proposal for the 2025 fiscal year, focusing on the completion of key infrastructure projects, new developments, and social protection programs for residents.
The appropriation bill, titled “The Budget of Economic Stability and Sustained Prosperity,” was presented to the State House of Assembly on Friday.
Governor AbdulRazaq revealed that capital expenditure dominates the budget, accounting for 62.1%, while recurrent expenditure takes 37.9%. The funding sources include Federation Account Allocation (48.1%), internal revenues, and capital receipts making up 51.9%. The budget is based on projected oil prices of $75 per barrel, daily oil production of 2.06 million barrels, and GDP growth of 6.4%.
Key priorities in the proposed budget include completing existing projects like the International Conference Centre, Innovation Hub, and several major roadworks across the state. New projects include the construction of a multi-story courthouse, a 250-unit housing project, and access roads for the Smart City project.
Governor AbdulRazaq emphasized youth and women empowerment, social welfare programs, and agriculture modernization. The Ministry of Works and Transport is allocated 17.51% for extensive road development.
The education sector is allocated 16.2%, with plans to support the new university of education and enhance existing institutions. Health receives 10.56%, with commitments to free medical care for vulnerable groups.
Reflecting on the 2024 budget, the governor highlighted investments in agriculture, education, social protection, and infrastructure, including the transformation of the capital city under the urban renewal program. He also noted a significant reduction in the state’s debt burden.
Speaker Yakubu Danladi-Salihu praised the governor’s fiscal discipline and transparency, pledging swift consideration of the budget proposal. The presentation was attended by government officials, traditional rulers, and security chiefs.
