By: Willy Punvwet,
Nasarawa State Government has budgeted, an estimated sum of One Hundred and Twelve Billion, Nine Hundred and Twenty Three Million, One Hundred and Seventy Four Thousand, Five Hundred and Forty Three Naira (#112,923, 174,543.) for 2021 fiscal year.
Presenting the 2021 budget to the State Legislators today, Tuesday, 17th November, 2020, at the State House of Assembly, Governor Abdullahi Sule disclosed that, the state government intends to leverage on the available grants from SFTAS performance result and other interventions amounting to over #16billion, to add to the 2021 budget.
He said the budget frame work shows an increase of over Four Billion Naira (N4, 000,000,000.00), above the 2020, original budget estimate, which also translates to about 4. 13 percent increase and a rise of, over Forty Nine Billion Naira (N49, 000, 000, 000.00).
Governor Sule, further disclosed that, the budget would be funded from the Federation Account, which consists of Statutory Revenue Allocation of #36.0 Billion, Value Added Tax (VAT) of about #15.5Billion.
Others include, Exchange Gain of #2.0 Billion, Special Allocation of #2.0 Billion, among others.
Governor Sule pointed out that, the sum of Fifty One Billion, Fifty Million, Four Hundred and Fifty Six Thousand, Eight Hundred and Seventeen Naira (51,050,456,817) only, representing 45 .21 Percent of the budget is earmarked for None Departmental Recurrent Expenditure, which consists of both personnel and overhead cost.
The State Chief Executive further announced that the sum of over Seven Billion has been allocated to Consolidated Revenue Fund Charges for Departmental Servicing, Pension and Gratuity.
He highlighted the construction of Bus Terminal in Karu, Mini Bus Terminal in Lafia, the construction of Mararaba Udegi Road, Lafia Airport, among other numerous major capital projects to be executed, next fiscal year.
Governor Sule reassured the people of the state of his administration’s preparedness to continue to improve the developmental landscape for the prosperity of the good people of the state.
Receiving the budget proposal, the speaker of the State Assembly, Hon. Ibrahim A Balarabe, assured the Governor that, the Lawmakers would ensure accelerated deliberation on the budget, while commending the Governor over what he termed, “Prudent management of the state resources”.