The Niger Governor Abubakar Sani Bello has presented N 198.2 Billion Naira budget proposal to state Assembly for 2022 fiscal year.
The Governor who presented a budget estimates of 198, 245, 654, 759, 75 billion Naira to the State House of Assembly on Thursday, explained that, the budget estimates comprises of 54, 282, 425, 426 billionfrom Statutory allocation, value added tax is expected to contribute 20, 792, 440, 780 billion Naira.
The Niger state Governor said the estimate of the budget is hinged on six cardinal objective, tagged the 2022 budget as “budget of prosperity and consolidated development”
Giving a breakdown of the expenditure framework for the 2022 budget proposal, Governor Abubakar Sani Bello disclosed that recurrent expenditure will gulp the sum of 74.1 billion naira or 37percent of the budget as against the 72billion for 2020.
Other sources of revenue for financing the estimate are hinged on internal generated revenue which is projected at 17, 190, 944, 2863 billion, Dividend from North- South power company 500 million naira while excess crude refund is estimated at 4.87 billion Naira.
Capital expenditure is estimated at a whopping 124.9billion naira an increase of 43billion naira from last year’s approved 80 billion Naira capital expenditure? Which represent 62 percent of the total budget.
Other sectors include, social sector 25.6 billion naira, Administrative sector 9billion naira and Law and justice sub sector 760million naira.
The Governor who further mentioned that the budget is targeted at completing all ongoing projects, creation of wealth and the security of lives and properties, noted that the economic sector has been earmarked the sum of 87.4 Billion Naira.
. The speaker of the Niger state house of Assembly, Hon Abdullahi Bawa Wuse while giving his remarks commended the Governor for ensuring that the capital budget estimates outweigh the recurrent expenditure to drive the developmental needs of the State.
The Speaker further appealed to the Governor to do everything humanly possible towards securing the local government Areas of the State inorder to ensure that IDPs return back to their respective communities to boast Agricultural inputs and stimulate economic activities in the state.
Dominica Nwabufo
