Governor Abdullahi Ganduje of Kano State, on Monday presented a N275 billion 2016 budget which he tagged “Budget of Self Reliance”.
While presenting the budget before the State House of Assembly, Ganduje said the proposed capital expenditure for the 2016 fiscal year was put at N192billion, which was higher than that of 2015 by N56billion.
He said it would be financed by N74billion expected recurrent revenue surplus and total capital receipts of N117billion.
“The capital receipts are made up of N29,440,151,690 expected internal and external loans drawdown; N52,390,307,543 estimated grants; N35,483,609,076 miscellaneous receipts and; treasury opening balance of N100,000,000,” he said.
Gov. Ganduje said the total recurrent revenue to be collected was estimated at N157billion.
According to him, it consists of N60billion Internally Generated Revenue, IGR, and N97billion revenue from the Federation Account.
He said the total recurrent revenue was higher than that of year 2015 by N44billion or 28 percent, while the IGR was higher than that of year 2015 by N14billion, which represents 31percent increase.
“This will be made possible with the on-going reform done to the Board of Internal Revenue and the engagement of consultants, which will provide us with better strategies and new ideas of revenue collections,” he said.