From John Adams, Minna
Niger State Governor Abubakar Sani Bello presented a budget estimate of 198.3 billion naira to the State Assembly House for consideration for fiscal year 2022.
This is recurrent expenditure of 74 157 95 942.06 N, representing 37.41% of the total budget, i.e. an increase of 1.07% or 1, 574 764 111.18 N compared to the initial budget of 2021 of 72 583 201 830.88 N.
Capital expenditure is expected to swallow up 122,991,632,217.71 N, representing 62.56% of the total budget, with an increase of 43,258,268,872.10 N or 21.11% over capital expenditure of 80,829,419,945 , 59 N in 2021.
According to the governor, the capital expenditure will be mainly financed by two main sources which,
Transfer of the surplus from the consolidated revenue fund in the amount of N 23,678,871,472.46, capital revenues (drawdowns) made up of internal and external loans, grants from development partners in the amount of 100,408,817,345 , 23 N
This year’s budget, which the governor labeled the “Prosperity and Sustainable Development Budget,” recorded a 12.75% or N44.830,032,983.28 increase over the 2021 budget of N153.4 billion.
Presenting the budget to the State Assembly on Thursday, Governor Bello stressed that in 2022, they will strive to consolidate the gains of previous years, complete current projects and propel the economy on. sustained growth and prosperity for the population of the state within the limits of available resources.
He also revealed that the security concerns that plagued the state have significantly affected the government’s ability to meet its planned capital spending in the 2021 budget, although he argued that the government has made gains and improvements. remarkable in the quality of people’s lives.
In preparing the 2022 budget, however, he said the government kept the following goals in mind:
Improved insecurity; Completion of ongoing projects which have reached an appreciable level and have a direct impact on the well-being of the population; Careful management of available resources; Diversification of internal revenue sources and improvement of collection mechanisms; Increase investments in the productive capacity of the state economy, in particular agriculture, infrastructure, education, health, transport; and Caring for vulnerable people.
Overall, he revealed that the budget will be financed by the statutory allocation of 54,282,412,426.00 N (27.39%); Value added tax of N 20,792,440,780.00 (10.49%); Internally generated revenue of N17,190,944,156.00 (8.68%); Gross / other income surplus of N 4,870,724,375.00 (2.44%); North South Power Dividend, N500,000,000.00 (0.24%), N200,315,677.00 (0.11%), Federal Roads and Capital Receipts (Draw Downs) Redemption of 100,408,817,345.23 N, representing 50.65%.
He asserted that despite the security challenges facing the state, “our government has invested so much in the wake of the persistent security challenges in the provision of security equipment and the management of the security architecture in the country. State “.
This, he said, has further affected the ability to achieve our projected capital spending in 2021. It has nonetheless assured the people of the government’s commitment to the return of peace and normalcy to the affected communities. in a very short time.
“To our development partners and investors, we appreciate your continued support and commitment during these difficult times. The government will not let go of the responsibility of securing every part of the state, ”the governor said.