Samson Osuo, Lafia.
Nasarawa State Governor Abdullahi Sule on Tuesday, presented a Budget proposal of One hundred and twelve Billion, Nine hundred and twenty three Million, One hundred and seventy four Thousand, five hundred and forty three Naira (N112, 923,174, 543) to the State House of Assembly for 2021 fiscal Year.
The proposed Budget according to the Governor is above the One hundred Billion, Five hundred and Nineteen Million, Nine hundred and fifty Six thousand, Eight hundred and fifty Seven Naira (N100,519,956,857) 2020 appropriation Bill presented to the Assembly on December 2019.
Tagged a Budget of Economic Recuperation, Sule said a total of Fifty One Billion, Fifty Million, Four hundred and fifty Six thousand, Eight hundred and Seventeen Naira(N51,050, 456,817), representing 45.21 percent of the new Budget has been earmarked for Recurrent Expenditure while the sum of Fifty Four Billion, Eight hundred and Fifty Four Million, Nine hundred and Eighty Five Thousand, Six hundred and Ninety Five Naira(54,854,985,695), representing 48. 58 percent of the budget would go for Capital Expenditure.
According to the Governor, a total of Seven Billion, Seventeen Million, Seven hundred and thirty two thousand, thirty one Naira (7,017,732,031), representing 21 percent has been allocated to Consolidated Revenue Fund, charges of debt servicing, Pension and gratuity.
He said the 2021 budget would be funded from the Federation Account, Value Added Tax(VAT), Exchange gain, Special Allocation, IGR Aid and grants as well as Deficit financing (borrowing).
The Governor who commended members of the Assembly for their cooperation and peaceful disposition, assured that his administration will not relent in its determination to provide basic social amenities as well industrialize the State.
He appealed to the Lawmakers to give the Budget Proposal an accelerated passage to enable the administration embark on early execution of her planned projects and programmes in 2021.
Responding, Speaker of the House Ibrahim Balarabe Abdullahi who commended the Governor for the timely presentation of the Budget proposal, assured that the Legislators will give adequate attention to the budget appropriation in the bid to give it an accelerated passage.
Break down of the budget proposal indicates that Education/Science and ICT has the highest of 35.4 Billion Naira,representing 31.35%, followed by Infrastructure with 19.6 Billion Naira, representing 17.36%.