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Niger Gov Presents N198.2bn Budget Proposal To State Assembly For 2022

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File photo of Governor Abubakar Bello of Niger State.

 

Governor Abubakar Bello of Niger State on Thursday presented a budget estimate of N198, 245, 654, 759,75 billion to the State House of Assembly for the 2022 fiscal year.

Presenting the appropriation bill tagged ‘Budget of Prosperity and Consolidated Development’ before the House, the Governor said the estimate is hinged on six cardinal objectives.

He further explained that the budget estimates comprise N54,282,425,426 billion from statutory allocation, while Value Added Tax is expected to contribute N20,792,440,780 billion.

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Other sources of revenue for financing the estimate, according to the governor, are hinged on Internal Generated Revenue which is projected at N17 billion, Dividend from the North-South power company – N500 million, while the Excess Crude Refund is estimated at N4.87 billion.

Giving a breakdown of the expenditure framework for the 2022 budget proposal, Governor Bello said that recurrent expenditure will gulp the sum of N74.1 billion or 37 per cent of the budget as against the N72 billion for 2020.

Capital expenditure is estimated at a whopping N124.9 billion, an increase of N43 billion from last year’s approved N80 billion capital expenditure which represents 62 per cent of the total budget.

Giving a further breakdown of the sectoral allocation, the Governor who noted that this is the last full budget by this administration, said the sum of N87.4 billion has been earmarked for the economic sector.

Other sectors include the social sector N25.6 billion, administrative sector N9 billion and Law and justice sub-sector N760 million.

The Governor insisted that the budget is targeted at completing all ongoing projects, creation of wealth and the security of lives and properties.

Receiving the bill, Speaker of the Assembly, Hon Abdullahi Wuse, commended the Governor for ensuring that the capital budget estimates far outweigh the recurrent expenditure to drive the developmental needs of the state.

He appealed to the Governor to do everything possible towards securing the Local Government Areas of the state in order to ensure that locals who have been displaced return to their villages to boost agricultural inputs and stimulate economic activities in the state.

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