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From Billy Graham Abel, Yola
Adamawa State Governor Ahmadu Umaru Fintiri presented a ₦583.33 billion Appropriation Bill for the 2026 fiscal year to the Adamawa State House of Assembly on Thursday, with a strong emphasis on capital development, poverty reduction, and economic renewal.
Christened the “Budget of Sustainable Growth and Economic Renewal,” the 2026 proposal allocates 64.06 per cent (₦373.69 billion) to capital expenditure, while 35.94 per cent (₦209.64 billion) is set aside for recurrent services, underscoring the administration’s development-driven agenda.
Addressing lawmakers, Governor Fintiri said the budget was the product of extensive consultations with the State Executive Council, ministries, agencies, and members of the legislature, and aligned with the administration’s 8-Point Agenda and commitment to inclusive growth.
“What we are presenting is the result of hard work and broad consultations aimed at scaling up the tempo of development and moving higher the levers of all-inclusive growth,” the governor said.
The 2026 budget is anchored on key macroeconomic assumptions, including an oil price benchmark of $75 per barrel, oil production of 2 million barrels per day, an exchange rate of ₦1,443 to the dollar, GDP growth of 3.98 per cent, and inflation at 19.1 per cent.
Projected revenue of ₦583.33 billion is expected to come from statutory allocations, VAT, non-oil revenues, independent revenue, capital receipts, and special funds, with capital receipts alone accounting for over ₦71.16 billion.
Major spending priorities in the 2026 proposal include:
Ministry of Works and Energy Development: ₦120.86 billion
Ministry of Education and Human Capital Development: ₦40.63 billion
Ministry of Health and Human Services: ₦31.93 billion
Ministry of Housing and Urban Development: ₦27.02 billion
Ministry of Commerce: ₦20.22 billion
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Ministry of Youth and Sports Development: ₦18.42 billion
Other key allocations include funding for Adamawa State University, the Poverty Alleviation Agency, rural infrastructure, business-enabling reforms (SABER), and scholarship schemes.
Governor Fintiri also reviewed the 2025 budget performance, noting that the approved budget size rose to ₦621.29 billion following a supplementary appropriation. As of 30 September 2025, the state had realised ₦235.34 billion in revenue, representing 37.9 per cent of the total estimate, and spent ₦189.51 billion on recurrent and capital projects.
He attributed lower capital releases partly to revenue inflows but assured lawmakers that critical infrastructure and social projects were ongoing across the state.
The governor highlighted landmark achievements of his administration, including the implementation of the ₦70,000 minimum wage, empowerment of over 60,000 women and youths through the Fintiri Business Wallet with plans to reach 140,000 beneficiaries, and the expansion of ICT-driven governance.
He also cited improvements in the ease of doing business, with Adamawa rising from 23rd to 4th nationally, consistent top-five rankings in fiscal transparency, and a 50 per cent reduction in the state’s debt profile.
Mr Fintiri reaffirmed the government’s commitment to peace and security, crediting legislative reforms in the traditional institution for strengthening social cohesion and grassroots dispute resolution.
In a major policy shift, the governor announced the introduction of e-budgeting from 2026 to enhance efficiency, cut costs, and promote transparency, in line with IPSAS and SABER frameworks.
Concluding, Governor Fintiri appealed to the House for continued cooperation, describing the legislature as a critical partner in governance.
“The 2026 budget is crafted to place Adamawa on the path of sustainable growth and economic renewal,” he said, formally presenting the Appropriation Bill for legislative consideration.
The Speaker and members of the House received the proposal, which will now proceed to committee scrutiny and further legislative action.
