Gov. Abubakar Bello of Niger on Thursday presented a budget of N151.2 billion for the 2021 fiscal year to the Niger State House of Assembly.
The budget christened ‘Budget of Reality’ was presented by the Deputy Governor, Alhaji Ahmed Ketso, on behalf of the executive arm.
The News Agency of Nigeria (NAN) reports that the budget was 2.71 per cent lower than the N155. 4 billion for the current year.
A breakdown of the budget shows that N72. 5billion (47. 94 per cent) was allocated to recurrent expenditure, while N78. 7 billion (52.06 per cent) was earmarked for capital expenditure.
The economic sector was allocated N54.2 billion; social sector, N16.08 billion; administrative sector, N7.09 billion and law and justice sector got N1.3 billion.
Kesto said the 2021 budget would be financed through sources such as: statutory allocation, value-added tax (VAT), Internally Generated Revenue (IGR) and capital receipts among others.
“Other revenue sources of the budget include; dividends from North-South Power refund from National Electricity Liability Company (NELCO) and re-fund from federal road projects.
“The recurrent expenditure is slightly higher with 3.63 per cent than the one in the year under review due to the implementation of the new minimum wage of N30, 000.00.
“And because of the backlog of promotions, annual salary increments; and payments of pension and gratuity to retired civil servants,” he added
He said that the budget was focused on the completion of projects, investment drive and employment generation for youths in areas like mining and agriculture.
The speaker, Mr Abdullahi Wuse, gave assurance of the house to partner with relevant stakeholders and ensure quick passage of the budget before end of the year.
He appealed for additional memos to address the security challenges in the state and urged the state government not to relent on its efforts to address infrastructure deficit in the state.
Wuse said the house would intensify its oversight functions for delivery of dividends of democracy and appealed to Ministries, Departments and Agencies (MDAs) to comply with the passage deadline. (NAN)