KATSINA State House of Assembly has passed N140.1 billion appropriation bill for 2017 into law. The bill was presented to the lawmakers late last year by Governor Aminu Bello Masari before it was finally signed into law yesterday.
While the original bill by the governor stood at N140.2 billion, the House however reduced it by about N100 million, making it N140.1 billion. The chairman, House Committee on Appropriation, Hon. Hambali Faruk (APC, Katsina) said some few amendments were made on the revenue and expenditure in the budget, adding that the capital expenditure now stood at N96.3 billion while recurrent expenditure was N43.8 billion.
He said the Internally Generated Revenue, IGR, was adjusted from N19 billion to N18.4 billion, and expressed hope that the 2017 fiscal year had more prospects in terms of revenue generation compared to the previous year.
He said the budget had an opening balance of over N24 billion, which included N20 billion refunds from the Paris Club and other miscellaneous revenues. After the House adopted the amendments, Speaker of the House, Hon Abubakar Yahaya directed clerk of the House to submit a copy to the executive arm for ascent and implementation.
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