Governor Abdullahi Sule of Nasarawa State, on Tuesday, presented a budget of N112. 9 billion for 2021 to the state House of Assembly for approval.
Presenting the budget christened “Budget of Economic Recuperation” Governor Sule said that it was made up of N54,854,985,695 representing 48.58 per cent of the total budget is earmarked as capital expenditure and N51,050,456,817 representing 45.21 per cent as recurrent expenditure which consist of both personnel and overhead costs.
He explained that the budget framework shows an increase of N4,478,368,930 over and above the 2020 original budget estimate translating to 4.13 per cent increase and N49,954,826,405 when compared with the 2020 amended budget representing 79.33% increase. Major Sectoral Allocation.
The governor said the outlined of the 2021 appropriation bill is as follows; Infrastructure: N19.6bn representing 17.36%. Education/Science & ICT -N35.4bn representing 31.35%, Governance/Security&General Administration-N14.3 billion (12.66 per cent),Legislation-N2.7 billion (2.39 per cent),Law & Justice-N3.8 billion (3.37 per cent), Finance/Investment/Trade-N5.7 billion (5.05 per cent) and Health-N11.4 billion (10.10 per cent).
“Accordingly, the budget is to be funded from the following anticipated revenue sources: Federation Account Statutory Revenue Allocation of N36 billion, Value Added Tax (VAT) of N15 billion, exchange gain of N2 billion, Special Allocation of N2 billion, Internally Generated Revenue (IGR) of N25.73 billion, Aid and Grants of N16.2 billion, Deficit financing (Borrowing) of N14.4 billion, basically from CARES, Local Loan, NEWMAP, and ANRiN,” he said.
“Mr Speaker, Honourable Members of this hallowed chamber, this budget is anchored on our collective desire to continue to improve the developmental landscape for the prosperity of the good people of Nasarawa State.”
He said towards realising this noble aspiration his administration will continue to provide the needed conducive atmosphere to attract investment and ignite socio-economic and political activities to thrive.
“We shall also sustain our synergy and collaboration with the law enforcement agencies to ensure that Nasarawa State is secured for all-round development,” he added
While soliciting for prompt consideration and speedy passage of the bill, the governor noted that. “I wish to reiterate that the attainment of our development objectives contained in this budget rests squarely on our continuous commitment, dedication, sacrifice and enduring partnership.”
Speaking while receiving the budget proposal, Speaker, Ibrahim Balarabe-Abdullahi, assured the state governor of speedy passage of the budget for the overall development of the state.