… Finance Commissioner hails Governor AbdulRazaq’s fiscal reforms as State posts major wins in revenue growth, debt sustainability, and global funding access
#KwaraRising
The Kwara State Ministry of Finance has reported significant fiscal achievements for the first quarter of 2025, reflecting the State’s commitment to prudent financial management and economic development under the leadership of Governor AbdulRahman AbdulRazaq.
Presenting the Q1 2025 Ministerial Briefing, the Commissioner for Finance, Dr. Hauwa Nuru, highlighted a 16% increase in Internally Generated Revenue (IGR) compared to the same period in 2024. She attributed this growth to effective investment strategies and comprehensive tax reforms aimed at reducing dependence on federal allocations. “This growth underscores our commitment to financial autonomy and sustainable economic development,” Dr. Nuru stated.
In addition to the IGR performance, Dr. Nuru announced that Kwara State secured over $85 million in performance-based grants through the World Bank’s Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme, placing Kwara among the top-performing states nationwide. She described the achievement as a direct result of the administration’s consistent efforts to uplift the poor and vulnerable and to implement development programmes effectively across all 16 local government areas.
Dr. Nuru also revealed that Kwara’s domestic debt stock had dropped by 45.8%, a remarkable reduction that positions the State among Nigeria’s most fiscally sustainable sub-national governments. She said this development, along with stable fiscal indicators, reflects the prudent management of public resources under the present administration.
The Commissioner reported that the ₦584.69 billion 2025 budget was published promptly, demonstrating transparency and a commitment to accountability. She added that the Ministry has advanced its financial operations by automating processes, adopting the International Public Sector Accounting Standards (IPSAS), and introducing real-time expenditure monitoring systems to enhance oversight and service delivery.
Reaffirming the State’s policy of prompt payment of salaries and pensions, Dr. Nuru stressed the importance of the ongoing Kwara State Residents Registration Agency (KWSRRA) exercise, which is required for all State and local government pensioners and employees. She noted that the exercise would ensure seamless verification and timely disbursement of monthly entitlements.
Dr. Nuru concluded by acknowledging Governor AbdulRahman AbdulRazaq’s visionary leadership and support for financial reform. “His Excellency’s direction and commitment to good governance have been pivotal in steering our financial strategies toward success,” she said.
