From Musa Abunaka Jos
The Plateau state governor , Barrister Simon Bako Lalong has presented a budget proposal of N145.4bn for the 2018 fiscal year to the Plateau State House of Assembly.
The budget which was tagged: “A budget of rescue and consolidation,” has the total estimate of Seventy-Five Billion, Eight Hundred and Forty-One Million, Forty-Five Thousand, Two Hundred and Ninety-Two Naira (N75,841,045,292.00) only, as recurrent expenditure which is represnting 52.13% of the budget while Sixty-Nine Billion, Six Hundred and Forty-Seven Million, Twenty-One Thousand and Sixty Naira (N69,647,021,060.00) only, is for capital expendure, representing 48.87% of the total estimate.
According Lalong, the recurrent revenue in the 2018 budget is estimated at N76.3 -bn, only, consist of N21.1-bn, only as Internally Generated Revenue (IGR) while N36.5-bn is expected from the Federation Account Allocation Committee (FAAC), as well as N18.8-bn only as Reimbursements from the Federal Government for the Federal Roads constructed by the State Government, amongst others.
The budget proposal indicated that Ministry of works and transport tops the with N18.8-bn representing 27.07 percent, followed by Education, with N11.7-bn having 16.86 percent, while health has N4.3-bn representing 6.25 percent and Agriculture has N3.6-bn representing 5.1 percents, among others.
Lalong said: “…may I inform the Hon. House that the budget is in deficit of the sum of Thirty Four Billion, Three Hundred and Sixty-One Million, Five Hundred and One Thousand, Two Hundred and Fifty-Nine Naira (N34,361,501,259.00) only.”
“This represents 23.62% of the budget size. The deficit is to finance the expenditure side of the estimate and will be draw from both internal sources if the need arises during the implementation of the budget,” he added
The sum N139.4-bn was passed by the house in for the out going 2017 fiscal year, while the sum of N145.4-bn was presented for the 2018 .
This however indicated an increase of about N6-bn compared to last year.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
