Miracle: Kaduna Assembly Passes Bill Within 30 Minutes

An executive bill for a law to make provision for second supplementary appropriation of funds for Kaduna State totalling N15.3bn was passed into law within 30 minutes.

The bill which was passed into law by law makers went through First, second and third readings in 30 minutes on Friday.

The sum of N15,302,819,927.82 was immediately approved to be included in the 2016 Budget to meet up expenditures on recurrent services and capital projects in the State.

This followed the receipt of the Paris Club Debt Refund from the Federal Government.‎

The amount is an internal grant to the State and it is to be captured as capital receipts under the Regional Sector.

The sum of #7,242,202,526.24 covering grant for development programme in the sum of #6,244,382,598.42 and interest earned thereto in the sum of #1,002,819,927.82. The sum of #3,633,909,963.91 and #3,613,292,562.33 to be utilized by the State ‎Government for recurrent services and capital expenditures respectively.

The sum of #8,055,617,401.58 will be distributed proportionately to the 23 Local Government Councils covering the sum of #6,435,000,000.00 as grant for development Programme and #1,620,617,401.58 being balance of SURE-P funds accruable to the local government councils,to be utilized in meeting up recurrent and capital expenditures in the sum of #4,017,500.00 and #4,038,117,401.58 respectively.

Newsweb

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