By Isaac kertyo,Makurdi
Governor Samuel Ortom of Benue State has presented to the State House of Assembly the 2022 budget proposal of over N155.6 billion.
Performing the ceremony at the Assembly’s Chambers, the Governor noted that the proposal was based on the exchange rate of N410 per Dollar and the rate of inflation at 13 percent with the bench mark of 57 dollar per barrel and oil production of 1.88 million barrel of crude oil per day as proposed by the Federal Government.
Ortom explained that the recurrent expenditure was projected at N98.7 billion, while capital expenditure stood at N56.8 billion.
The Governor pointed out that the total expenditure for the fiscal year was allocated to the major sectors of the state economy, namely; Economic sector N56.7 billion, Social Sector to engulf N46.9 billion, Administrative Sector N43.8 billion while Law and Justice Sector got N8.1 billion respectively.
It was learned that the 2022 budget is higher than the 2021 budget by over twenty one billion naira.
Speaker of the Benue State House of Assembly, Mr Titus Uba assured that members would pass the 2022 budget proposal on time, adding that members would suspend other legislative matters to concentrate on the said budget to ensure quick passage.
He noted that next year’s budget would address Covid-19 Pandemic as well as economic and social challenges to pave the way for employment, poverty reduction among others.
