Iliya Garba, Minna.
Niger state Governor, Alhaji Abubakar Sani Bello has presented a budget proposal of N74.7 billion to the State House of Assembly for the 2016 fiscal year in a brief and colourful ceremony yesterday.
In his speech, the governor lamented that the global financial crises as well as the fall in oil price is affecting negatively on the economy of the state which necessitating the 2016 to be tagged as ‘Budget of Restoration’ is N6 billion less than the 2015 budget estimated at N80.81 billion.
.According to him, “we are all aware of the effect of the continuous fall in the price of crude oil in the International Market and its negative impact on the economy of the country and the States that depend heavily on allocation from the Federation Account”.
Presenting the budget to the members of the House of Assembly, the governor said ,the budget was prepared to restore the confidence of the people even as education have the highest budget estimate of N4.29billion.
A breakdown shows that the budget which comprises of a proposed recurrent expenditure of N39,501796,081 and Capital Expenditure of N242,355,052 would be financed through Statutory Allocation of N35,792,212,748, Value Added Tax (VAT) of N9,871,299,803,
Internally Generated Revenue of N9, 391,164,232 and Capital Receipts of N19, 689,474,347.
Bello promised that the budget would be used judiciously added that the government have budgeted to spend N4.29 billion on Education, N3.59 billion in Infrastructural Development, N2.61 billion in Health, N2.53 billion in Agriculture and Rural development; N2.38 billion in Water Resources.
He further said that the budget would focus on wealth and job creation through Youth Empowerment Programmes, Agricultural Development, Construction, Upgrading and Rehabilitation of Health Facilities and Services, Completion of all on-going Road Projects and Construction of new Roads, Completion of inherited abandoned Water and Electricity Projects, Renovation of Schools using the Whole-School Development Approach and Improvement and enhancement of Internal Revenue Generation.
The governor further stated that the State Government intends to obtain a N5 billion Bond to address income generating projects that will support additional Internally Generated Revenue and contribute to the repayment of the bond to cushion the cost of repayment.
He therefore solicited for patience and support of the people in the state, the Governor stated that the administration will do its best to restore confidence in the management of its finances stressing that bold steps will be taken to alleviate the sufferings of the people.
The Speaker of the House of Assembly, Rt. Honourable Ahmed Marafa in his address urged the executive to intensify its efforts at blocking leakages and avenues for wastages while calling for the immediate implementation of the Treasury Single Account system in the state.
Marafa warned MDAs to be accountable, prudent use of resources available to them just as he assured to do everything possible for speedy passage of the bill.
Niger Gov Presents N74.7billion Budget To State Assembly
Iliya Garba, Minna.