By Emmanuel Awari-Jalingo
Taraba State Governor, Darius Dickson Ishaku on Friday, presented a budget proposal of over N168,677,960,681.00 billion for 2021, to the State House of Assembly.
Ishaku said that, the figure represents a decrease of N47,145,616,128.00 lower than 2020 approved Budget.
“It also represents a decrease of N7,938,357,794.02 lower than the 2020 approved amended Budget.
includes grants and COVID 19 palliatives amounting to about over N1,250,00l
He added that , the Budget of Accelerated Growth and Development has a Recurrent Expenditure of N82,910,048,650.90 and a Capital Expenditure of N56,550,387,310.90 respectively.
According to him, measures have been enforce to ensure budget discipline to include, Government agencies must maintain budget discipline in the execution of their approved estimate, Close review monitoring of physical performance of all Capital projects and programs to ensure that funds are utilized for the right purposes, MDAs are strongly advise to patronize Government Printing Press for their Printing purposes and advising Government on Economic affairs and measures necessary for the coordination of economic planning efforts.
He explained: ” Based on the benchmarked oil price of $40 per barrel, there is a projection of 30% increase on Statutory allocation over the 2020 revised budget.
” Inflation rate was put at 11.95 and Exchange rate at N379 per Dollar.
Governor Darius Dickson Ishaku gave the breakdown of the Budget as follows:
IGR is projected at N8,124, 489,606.00 billion, Projected Revenue
N139, 460,435,961.80
Projected VATat N15,000,000.00 billion.
Grants Loan and Aids N11,184,410,593.00.
External Loan estimate N6,442,872,800.00.
FGN refund N12,452,363,364.00
Sales of Government Assets N630,000,000.00
Personal cost
N34,307,679,849.00
Steppent to States
N5,600,000.00
Federal statutory Revenue
N50,893,617,537.00
Domestic borrowing
N20,782,475,280.80
Over head cost
N28,229,318,510.90
Consulidated Revenue charges
N20,373,050,291.00
Economic N30,065,956,888.80
Social N14,946,330,251.30
Administration N5,653,896,803.10
He also disclosed that, the 2021 Budget which is designed to invigorate the economy, through massive investments in Agriculture, Infrastructure, Youth empowerment, Social Inclusion and the Development of SMEs.
Ishaku expressed delight that, in spite of the unfavourable economic climate, the state recorded some modest achievements.
He promised to sustain the feat, with the regular payment of salaries and other overhead as at when due, provision of security, as well as expend as much as required, to ensure the lives of the citizens and their well being.
Governor Darius Dickson Ishaku commended the State House of Assembly for expeditiously approving the 2020 budget, as well as its revised version .
He also acknowledged the extant cordial relations between the various arms of government, as well as appreciated the sustained support and cooperation of all the critical stakeholders in the State .
Earlier, Speaker of the Taraba State House of Assembly, Right Hon. Joseph Albasu Kunini, said that, Budgeting is an Annual constitutional obligation that must be complied with by both the Executive and Legislative Arms of Government.
He explained that, the house was to contribute to the good governance of the Ishaku-led administration as it has always been demonstrated.
He said that the 2021 Appropriation bill is significant for it coincides with one year anniversary of the current leadership of the house.
The Speaker assured, will work round the clock, to ensure the speedy passage of the Appropriation Bill.
This, he noted, was for Taraba State to continue to be on the frontline of the upright states in Nigeria.
The Speaker also promised that, the house shall ensure an accelerated consideration and passage of the budget within the shortest time possible, in line with the new standard that every fiscal year should start from January, 2021.
Nasarawa Reporters 