Niger State government in North Central Nigeria is to fund the 2022 budget with N100.4 billion capital receipts to ensure the completion of ongoing capital projects, especially roads in the state.
The Commissioner for Finance, Alhaji Zakari Abubakar, stated this during a media briefing in Minna on the highlights of the 2022 budget aimed at consolidating development in the state.
He said the budget was “a reflection of our desire and commitment towards consolidating our achievements in the previous years.”
Completing critical projects
“This is with the view of strengthening the state security apparatus, completing critical on-going projects that have attained 80 per cent level of completion and impact positively on the lives of citizenry,” Alhaji Zakari stated.
He explained that the capital receipt of N100.4 billion is part of capital expenditure of N122. 991 billion or 62.04 percent of the entire N198 billion budget size and N75 billion for recurrent expenditure.
According to him, the capital receipts would be made up of external and internal borrowing as well as grants from various sources aimed at fast tracking infrastructural development in the state and ensure success of the 2022 budget.
The budget would also be funded through internally generated revenue of N17.190 billion (or 8.67 per cent); federation account (FAAC) N54.282billion (or 27.38 per cent); value added tax (VAT), N20.792 billion (or 10.49 per cent); dividends from North-South Power N500 million (or 0.25 per cent); refund from federal roads, N200 million (or 0.10 per cent), and excess crude/other revenue N4.870 billion (or 2.46 per cent).
Lateefah/Qasim
