By Abel Leonard/ Lafia
Nasarawa state governor, Engr. Abdulahi Sule has signed N115,722,814,343.31, 2021 appropriation bill, ‘Tagged budget of Economic Recuperation’ into law.
The governor signed the budget today 30th December, 2020 in government house, after returning from United State of America where he went on vacation and to see his old time Doctor for a routine medical check up.
You would recall that daybreak news report that his excellency had presented the 2021 budget to the House of Assembly, saying the 2021 budget proposal is predicated on the National and State assumptions, with Oil Benchmark of $40pb, foreign Exchange rate of N379/US$, Oil Production Output of 1.86mbpd, Inflation rate of 11.95%; an average SRA of N2.9 billion monthly, Average VAT of N991.7 million monthly, Average Exchange Gain of N185.8 million monthly, average Special Allocation of N383.5 million monthly.
The governor also added that an average Independent Revenue (IGR) of N1.33 billion monthly, Recovery of FG Personnel’s PAYE totaling N8.5 billion, Discovery of additional Federal Government Ministries, Department & Agencies not initially in the tax net yielding N2.5 billion, recovery of taxes from banks and other
entities N0.9 billion, Expected Grants from UBEC, SFTAS, Save One Million Lives, Ecological fund and TETFund of over N16.2 billion as well as Borrowing (Deficit Financing) from Domestic loan, CARES, NEWMAP & ANRiN of over N14.4 billion.
Engr. Sule further stressed that the assumptions has informed the submission of a budget size 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) only.
The Budger however is further broken down into Fifty-one Billion, Fifty Million, Four Hundred and Fifty-six Thousand, Eight Hundred and Seventeen Naira (N51,050,456,817) only, representing 45.21% of the budget as Recurrent Non-debt expenditure consisting of both personnel and overhead costs
Sule also said, Fifty-four Billion, Eight Hundred and Fifty-four Million, Nine Hundred and Eighty-five Thousand, Six Hundred and Ninety- five Naira (N54,854,985,695) only, representing 48.58% of the total budget was however, earmarked for Capital Expenditure, while Seven Billion, Seventeen Million, Seven Hundred and Thirty-two Thousand, Thirty-one Naira (N7,017,732,031)only, is allocated to Consolidated Revenue Fund Charges for debt servicing, pension and gratuity representing 6.21% of the total budget.
In a contrast Development, the governor said the Honourable House of Assembly, after a thorough scrutiny of the of the budget passed a total budget of One Hundred and Fifteen Billion, Seven Hundred and Twenty-two Million, Eight Hundred and Fourteen Thousand, Three Hundred and Forty-three Naira, Thirty-one kobo (N115,722,814,343.31) only, for 2021 which he gave assent to saying the figure represents a 2.48% increase from the initial budget proposal submitted.
The governor also added that the new budget figure therefore, consists of Fifty-three Billion, Eight Hundred and Seventy-four Million, One Hundred and Fifty-six Thousand, Eight Hundred and Seventeen Naira(N53,874,156,817) only, for recurrent expenditure, representing 46.55%. Fifty-four Billion, Eight Hundred and Thirty Million, Nine Hundred and Twenty-five
Thousand, Four Hundred and Ninety-five Naira # (N54,830,925,495) only, for capital expenditure, indicating 47.38% and Seven Billion, Seventeen
Million, Seven Hundred and Thirty-two Thousand, Thirty-one Naira (N7,017,732,031) only, for Consolidated Revenue Fund Charges which represents 6.06%.
He further appreciated the Honourable Speaker, Principal Officers and, other Honourable Members for according the 2021 appropriation bill the desired relevance and attention resulting in the early passage of the proposal into Law, commending the synergy and partnership of both legislature and the executives towards ensuring collective responsibility to provide quality policies and programmes for the progress and development of the State.
Engr. Sule also drew the attention of the public on the second wave of the Corona Virus pandemic, which is already ravaging lives and economic prosperity of the people, reminding residents of the state on the new variant of the virus saying it is real, appealing to the people of Nasarawa State to continue to comply with the protocol for the control of the spread of the virus by constant wearing of facemasks, regular hand washing, persistent use of hand sanitizers and maintenance of social distancing, among others.
In his closing remarks, the governor further assured the people of Nasarawa State that his administration will strictly adhere to the provision of the budget to ensure successful implementation for the benefit of the good people of Nasarawa State.
