The Sokoto State government is to send a budget proposal of N112.5 billion for 2015 to the State House of Assembly for consideration and approval.
The state commissioner for Budget and Economic Planning, Isa Bajini, disclosed this at a news conference on the outcome of the State Executive Council Meeting in Sokoto on Wednesday.
Mr. Bajini said the council approved the expenditure estimates to be sent to the legislature.
Mr. Bajini said N61.7 billion is for capital expenditure, while N50.8 billion is for recurrent expenditure.
“It is tagged budget of consolidation and was worked out based on the existing economic realities in Nigeria.
“This is occasioned by the dwindling revenue from oil which had affected the average monthly allocation from the Federation Account,” he said.
Mr. Bajini also said the State Government was exploring other sources of generating revenue internally to augment the revenue from the federation account.
The state government budgeted over N125 billion for 2014, the News Agency of Nigeria reported.
A supplementary budget of N3.6 billion was also approved by the legislature for the state government about two weeks ago.