Niger State Governor, Abubakar Sani Bello, on Thursday presented a budget estimate of N198,245,654,759.75 billion to the State House of Assembly for the 2022 fiscal year.
Presenting the budget with the theme: “Budget of Prosperity and Consolidated Development” before the state assembly, the governor said the estimate is hinged on six cardinal objectives.
He explained that the budget estimates comprise N54,282,425,426 billion from statutory allocation, adding that the Value Added Tax (VAT) is expected to contribute N20,792,440,780 billion.
Other sources of revenue for financing the estimates are also hinged on Internally Generated Revenue (IGR) which is projected at N17,190,944,28.63 billion, as dividends from North-South Power Company is N500 million while excess crude refund is estimated at N4.87 billion.
Giving a breakdown of the expenditure framework for the 2022 budget proposal, Governor Bello disclosed that recurrent expenditure will gulp N74.1 billion or 37 percent of the budget.
The governor stated further that capital expenditure is estimated at N124.9 billion, which is an increase of a N43billion from last year’s approved N80 billion capital expenditure which represents 62 percent of the total budget.
Giving a further breakdown of sectoral allocations, the governor stressed that N87.4 billion was earmarked for the economic sector, N25.6 billion for the social sector, N9billion for the administrative sector and N760million for the law and justice sub-sector.
The governor insisted that the budget is targeted at completing all ongoing projects, creation of wealth and the security of lives and properties.
While receiving the budget from the governor, the Speaker of the Assembly, Rt. Hon. Abdullahi Bawa Wuse, commended the governor for ensuring that the capital budget estimates far outweighed the recurrent expenditure to drive the developmental needs of the state.
He, however, appealed to the governor to do everything humanly possible towards securing the local government areas of the state in order to ensure that locals displaced by suspected armed bandits return to their villages to boost agricultural inputs and stimulate economic activities in the state.
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