By Olufemi Oni, Ilorin
The Kwara State Ministry of Finance has recorded significant fiscal strides for the first quarter of 2025, a testament of the State government’s commitment to prudent financial management and economic development under the leadership of Governor AbdulRahman AbdulRazaq..
Presenting the Ministry’s scorecard during the Q1 2025 Ministerial Briefing, the Commissioner for Finance, Dr. Hauwa Nuru, disclosed a 16 percent increase in Internally Generated Revenue (IGR) compared to the same period in 2024, attributing this growth to effective investment strategies and 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, she revealed that Kwara State secured over $85 million in performance-based grants from the World Bank’s Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme, positioning it among the top-performing states in the country.
Dr. Nuru emphasised that this success reflects the administration’s dedication to improving citizens’ livelihoods through effective programme implementation.
The State’s domestic debt stock, according to her, also saw a significant reduction of 45.8 percent, placing Kwara among the States with the most sustainable debt profiles in Nigeria, adding that key fiscal indicators remain well within sustainable thresholds in demonstration of the State’s prudent financial management.
She said: “The 2025 budget, totaling ₦584.69 billion, was published promptly, reinforcing the State’s dedication to transparency and fiscal responsibility. The Ministry continued automating financial processes, adopting International Public Sector Accounting Standards (IPSAS), and implementing real-time expenditure monitoring to enhance efficiency and accountability.”
Dr. Nuru reaffirmed the State’s policy of prompt and timely payment of salaries and pensions. She emphasised the importance of the ongoing Kwara State Residents Registration Agency (KWSRRA) exercise for all State and local government pensioners and employees to ensure uninterrupted payments.
Expressing gratitude to Governor AbdulRazaq, Dr. Nuru acknowledged his visionary leadership and unwavering commitment to good governance, which have been instrumental in achieving these milestones.
“His Excellency’s support has been pivotal in steering our financial strategies toward success,” she added.