The financial proposal, titled ‘Budget of Consolidation’, will be the last full-year fiscal plan of the state before the next general election. About N823.4 billion, representing 59 per cent of the 2022 budget is earmarked for capital expenditure. Recurrent expenditure, representing 41 per cent, is N565 billion, which includes personnel cost, overhead and debt services. The state would be earmarking an aggregate of N137.64 billion, representing 9.92 per cent of the 2022 budget, for the funding of green investment in environment, social protection, housing and community amenities. The outgoing year’s budget, Sanwo-Olu said, performed “remarkably well” despite the challenges encountered by the state, noting that the expenditure performance at the third quarter of 2021 rose to 80 per cent.

Source: Nigerian Tribune November 25, 2021 16:39 UTC