The Katsina State Government has proposed to secure a loan to the tune of N33.5bn to finance the 2020 budget, Katsina Post learned.
The Government plans to get the loans from Rural Access and Mobility Project (RAMP), Nigeria Erosion and Watershed Management Project (NEWMAP), International Development Bank (IDB) and International Fund for Agricultural Development (IFAD).
This is contained in the overview of the 2020 budget tagged ‘Budget of Reflection and Progress’ presented by the Hon. Commissioner, Ministry of Budget and Economic Planning to the press during a press briefing on the budget shortly after the Governor presented the budget to the State House of Assembly on the 20th of November.
The document also showed that the State Government plans to raise N185.3bn from recurrent revenue and N25.6bn from capital receipts. In total, the government planned to raise N249bn – that is the exact budget for the year 2020.
Also, further breakdown of the budget revealed that N75.5bn was earmarked for recurrent expenditure while N173.8 is budgeted for Capital expenditure.