Governor Ibrahim Gaidam of Yobe State on Thursday presented a budget of N88.93 billion to the state House of Assembly for the 2016 fiscal year.
Presenting the appropriation bill, christened: “Result based Budget for Consolidation, Reconstruction and Self-Reliance,” Gaidam said the budget increased by N8.9 billion, representing 10 per cent increase, from the N80.6 billion budget of 2015.
The governor said the budget was expected to be financed with N38.5 billion from statutory allocation, N3.5 billion from Internally Generated Revenue, N8.3 billion from VAT, N3.3 billion from excess crude allocation as well as grants and loans.
He said: “The budget will exploit solid minerals and tourism potentials as well as agricultural development to boost the revenue base of the state.
“Government shall ensure the rehabilitation and reconstruction of the destroyed structures and resettlement of the Internally Displaced Persons at the end of the insurgency.”
Gaidam said the budget would concentrate on employment and job creation, poverty eradication as well as checking of unnecessary expenditure.
In the budget estimate, the Ministry of Works had the highest allocation of N18 billion, followed by Ministry of Education with N17 billion, while Finance and Health received N14 billion and N10 billion respectively.
NAN.
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