2022 budget: Kaduna Govt targets N24.9 bn VAT, N67 bn IGR

Gov. Nasir El-Rufai of Kaduna State, says the state expects an internally generated revenue of N67.26 billion and N24.9 billion Value Added Tax (VAT) which will be used to partly finance the state’s 2022 budget of N233 billion.

The governor made the disclosure while presenting the 2022 draft budget to the State House of Assembly on Tuesday.

He indicated that the budget has a capital expenditure of N146 billion and recurrent spending of N87.6 billion.

The governor said the government expected N54.19 billion from the Federation Account and N500 million for COVID-19 response.

He added that the government would borrow N19.8 billion from local and external sources, raise N34.08 billion from grants and N500 million from sale of government assets, among others.

Giving a sectoral breakdown of the budget, El-Rufai said agriculture was allocated N1.79 billion; Business, Innovation and Technology, N3.72 billion; Housing and Urban Development, N9.34 billion; Public Works and Infrastructure, N36.97 billion.

Also, Education was allocated the highest vote of N44.68 billion; Health, N22.76 billion and Social Development, N690.52 million.

He said that the government had earmarked N2.98 billion to Environment and Natural Resources; N4.99 billion for Water, and N18.13 billion for general administration.

He explained that the budget has a capital to recurrent ratio of 63-37 percent.