Oil Price Fall: Kwara Initiates Moves To Review Budget On Friday

AbdulRahman AbdulRazak, APC Candidate in Kwara

Oluseyi Dasilva



Kwara State Government will commence a budget review move on Friday as precautionary steps towards the imminent fall in oil prices occasioned by the COVID 19 pandemic and to urgently rework the N162bn (2020) budget in alliance with the current global economic realities.


The review sessions which will involve all heads of various ministries, had, among other fundamentals, been predicated on $57 per barrel of oil but Nigeria’s Brent Crude now trades at around $20 as at Wednesday afternoon, owing in part to the global COVID-19 pandemic.


Commissioner for Finance and Planning Mrs Oyeyemi Olasumbo Florence disclosed this in a statement on Wednesday that the review sessions hold at her ministry and would be staggered to avoid overcrowding in line with the COVID-19 safety protocols.


She explained that each of the sessions would feature the commissioner, permanent secretary, director of personnel finance and supply (DPFS), director planning and research and statistics (DPRS), and controller finance and account (CFA) of the affected ministry or agency who are to attend sessions with relevant documents.


The statement added that the MDAs are to check the scheduled timetable already forwarded to them to confirm the date and time of their appearance.

Kwara State Governor had earlier at a different for a  hinted that the state expects a shortfall in federal allocation projecting that it may receive as low as N1.5bn effective from May, down from an average of N3bn in the previous months, as the NNPC might be unable to contribute anything to the national purse.


“The world is in a dire strait. There are no resources. We need to balance expectations with available resources. We are reviewing the budget. We will have to cut down on some capital projects but we do want to prioritise social investments. We have to build a new economy based on our new realities. We will need your feedback,” he said.





0 0 vote
Article Rating
Notify of
Newest Most Voted
Inline Feedbacks
View all comments
zortilo nrel
6 months ago

I saw a lot of website but I believe this one holds something extra in it in it

6 months ago

My coder is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using WordPress on numerous websites for about a year and am concerned about switching to another platform. I have heard very good things about blogengine.net. Is there a way I can transfer all my wordpress content into it? Any help would be greatly appreciated!

Abogado de Inmigracion
5 months ago

I will right away take hold of your rss as I can’t in finding your e-mail subscription hyperlink or newsletter service. Do you have any? Please allow me realize so that I may just subscribe. Thanks.

El Reloj Antiguo XVI
5 months ago

Say, you got a nice article post. Really Great.

Pin It on Pinterest