Politics

Nasarawa: Gov presents N112.9bn 2021 budget  to Assembly

From Esther Akaa, Lafia

Nasarawa  State Governor, Abdullahi Sule has presented the sum of  N112. 9 billion naira as the 2021 Appropriation Bill, tagged “Budget of Economic Recuperation” to  the State House of Assembly for approval.

Governor Sule, while presenting the proposed budget Tuesday at the Assembly complex in Lafia, said the budget was  anchored on government collective desire to improve the developmental landscape for the prosperity of the  people of the State.

The governor revealed that the budget framework showed an increase of  N4,478,368,930 only over the 2020  fiscal year original budget.

According to him, the budget has an estimate translating to 4.13% increase and a rise of N49,954,826,405 only  when compared with the 2020 amended budget which represents 79.33% increase.

He further revealed that government  intends to leverage on the available grants from SFTAS performance for result and other interventions, amounting to over N16 billion to add to the 2021 budget.

His words: “The budget framework shows an increase of N4,478,368,930 only over and above the FY2020 original budget estimate translating to 4.13% increase and an rise of N49,954,826,405 only when compared with the 2020 amended budget representing 79.33% increase. Details of these amounts are contained in the estimate’s document which I shall lay before you.

“Accordingly, the budget is to be funded from the following anticipated revenue sources: Federation Account, Statutory Revenue Allocation of N36.0 Billion; Value Added Tax (VAT) of N15.0 Billion; Exchange Gain of N2.0 Billion; Special Allocation of N2.0 Billion.”

Others, according to the governor, include 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, further revealed that the expenditure estimate for the 2021 budget would be based on a recurrent expenditure of N51,050,456,817 only representing 45.21% of the budget as it is  earmarked for non-debt Recurrent Expenditure which consist of both personnel and overhead costs.

On the capital expenditure, he said that the sum of N54,854,985,695 only, representing 48.58% of the total budget was  earmarked as Capital Expenditure for the year 2021.

He added that: “Consolidated Revenue Fund Charges, the sum of N7,017,732,031 has been allocated to Consolidated Revenue Fund Charges for debt servicing, pension and gratuity.  This represents 6.21% of the total budget.

“2021 Total Budget Size, the Right Honourable Speaker, Honourable Members, I am delighted to lay before you a total budget size of N112,923,174,543 only for the 2021 fiscal year.”

He reiterated that the attainment of government’s development objectives contained in budget would be  squarely on his adminstration’s  commitment, dedication, sacrifice and enduring partnership with all arms of government, even as he appealed for partnership to enable government serve the people of the state.

Speaker of the state House of Assembly, Ibrahim Balarabe, commended the governor for his painstaking and timely presentation of the 2021 Appropriation Bill, assuring that the house would give adequate attention to the bill, to ensure speedy  passage.

It would be recalled that Governor Sule had earlier presented the 2020 Fiscal Appropriation document for the consideration to the House of Assembly and was approved, resulting in the commencement of the implementation of its Appropriation Law on the 1st January, 2020.

However, few months into the implementation of the 2020 Appropriation Law, there was a sudden outbreak of the novel Coronavirus pandemic which lead to the review of the budget downward, primarily targeted at the control and containment of the spread of the virus, by way of preventive measures and emergency preparedness and response.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top