Masari presents N200b budget to Assembly

Governor Aminu Bello Masari of Katsina State yesterday presented an appropriation bill of N200.7 billion to the state House of Assembly for the 2019 fiscal year.

The estimate, tagged Budget of Stabilization, is lower than that of the 2018 bill by N12.8 billion or by 18.7 per cent, figure of which had stood at N211.4 billion.

A breakdown shows that N148 billion or 73.7 per cent is earmarked for capital expenditure and N52.7 billion or 26.3 per cent for recurrent expenditure.

For capital expenditure, N34.3 billion or 23 per cent is to go for economic sector, N41.7 billion or 28 per cent for social sector, N57.2 billion or 39 per cent for regional development, and N5.9 billion or four per cent for administration.

Others are N5.7 billion (4.1 per cent) for debt servicing, N984 million (0.6 per cent) for judiciary, N515 million (0.3 per cent) for legislature, and N1.5 billion for contingency.

Recurrent expenditure has N22.9 billion (43 per cent) for personnel cost and N16.05 billion (30 per cent) for overhead cost.