Abdulfatah Ahmed, the governor of Kwara state has presented a budget proposal of N119.85 billion to the state house assembly for consideration for the coming year.
He said over N11billion would be used for public debt servicing and N62.1billion for capital expenditure.
Ahmed added that the state would source for N23billion bond from the capital market which will be repaid in 2020.
He further noted that the budget had an increment of N4billion over that of 2014, promising to reduce public expenditures and double its efforts to increase internally generated revenue in order to make up for the shortfall in federal allocation.
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Ahmed said people have been subjected to difficulties as a result of the current economic situation in the country, saying he would not impose more taxes on people of the state and that his government would create additional 5000 jobs.
Razak Atunwa, the speaker of the house, directed Abdulkareem Abdulganiyu, the majority leader to move a motion for the adjournment of the house till December 18.
Atunwa said the budget had automatically passed the first stage and would be considered for a second reading when the house reconvenes.
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