The Niger State Governor, Alhaji Abubakar Sani Bello, on Thursday presented the 2016 financial budget estimated at N74,744,151,133.00 billion to the state House of Assembly.
The proposed budget is made up of recurrent estimate of N39,501,796,081 billion, which represents 52.85 per cent.
Presenting the budget on the floor of the Niger State House of Assembly, Bello said the 2016 budget is expected to be financed through Statutory allocation estimated at N35,792,212,748.00, Value-Added Tax of N9,871,299,803.00, Internally Generated Revenue of N9,391,164,235.00 and Capital receipts N19,689,474,347, bringing the total to N74,744,151,133.00.
Governor Bello further stated that the estimated recurrent expenditure for 2016 comprises of Personnel Cost, N27,791,636,930.00, Overhead Cost at N8,349,855,448.00, while
Consolidated Fund Charges will gulp N3,360,303,703.00, bringing the total amount to N74,744,151,133.00.
Also, the sectoral breakdown of the Capital Expenditure shows that Administration will gulp N3,687,052,540.00, 31.00, law and justice N896,400,000 and Social N6,660,847,880.00, bringing the total to N74,744,151,133.00.
Bello said in drawing the 2016 Budget, which is tagged: “’Budget of Restoration,” the “Government was guided by the global economic trend of fall in the price of crude oil, our internal revenue capacity, anticipated drawn-downs from Development Partners and the Special Intervention Funds”.
While presenting the Budget, Bello disclosed that the government budgeted to spend N4.29 billion on Education; N3.59 billion in Infrastructural Development; N2.61 billion in Health; N2.53 billion in Agriculture and Rural development; and N2.38 billion for Water Resources.
According to him: “The highlights of the 2016 Budget will focus on Wealth Creation and Job Creation through Youth Empowerment Programmes; Agricultural Development through encouragement of Commercial Agricultural Enterprises and the small and subsistence farmers through timely procurement and distribution of fertilizers at subsidised rates.
“Others are Construction, Upgrading and Rehabilitation of Health Facilities and Services; Completion of all on-going Road Projects and Construction of new Roads; Completion of inherited abandoned Water and Electricity Projects.
“The Renovation of Schools using the Whole-School Development Approach; Improvement and enhancement of Internal Revenue Generation; Observance of Due Process in the application and utilization of funds; Digitalisation of State owned Media Outfits; Consolidation of the existing ‘Peace and Security’ currently enjoyed in the State and Exploration of Development Partners contribution to complement State efforts.”
The governor further lamented the fall in oil price saying it has huge negative impact on the economy of the state.
Bello said: “We are all aware of the effect of the continuous fall in the price of crude oil in the International Market and its negative impact on the economy of the country and the States that depend heavily on allocation from the Federation Account.
“The situation is further aggravated because of our inability to meet target of Internally Generated Revenue. You will agree with me that this disadvantaged situations call for strategic measures and collective efforts to boost our revenue base and lessen our dependence on ‘hand-outs’ from Abuja.”
Furthermore, Bello said in the year 2016, measures will be put in place to maximally collect all revenues accruable to the Government and properly account for them.
He said: “The areas of leakages and wastages will be identified and blocked accordingly. The Treasury Single Account (TSA) will become operational in the year. I must emphasise that this Administration has zero tolerance for corruption. Stolen funds will be recovered and proven cases of corruption dealt with accordingly.”
Follow The Eagle Online Channel on WhatsApp
