Benue proposes N155.6 billion as 2022 budget

From Rose Ejembi, Makurdi

The Benue State Government, on Wednesday, presented the proposed 2022 budget of N155.6 billion to the State House of Assembly.

Christened budget of economic advancement and growth, Governor Samuel Ortom, in his presentation, noted that the amount is made up of Federal Account Allocation Committee (FAAC) Statutory Revenue of N62.7 Billion only representing 40% of Aggregate Revenue Estimates and N36.9 Billion representing 24% of the aggregate revenue from independent sources including Aids and Grants.

The Governor who disclosed that the sum of N98.8 Billion only or 63% is proposed as total Recurrent Expenditure said the Recurrent Expenditure is made up of the sum of N47.6 Billion only or 30.5% for Personnel Cost and the sum of N51.2 Billion only representing about 33% for Overhead Costs while the Capital Expenditure is allocated the sum of N61.8 Billion only or 36.5% of the aggregate expenditure.

“The proposed Fiscal Year 2021 Recurrent Expenditure stands at N98,792,082,431.34 only, representing 63.5% of the total Budget. This figure is made up of the sum of N47,569,440,798.84 only for Personnel Cost, representing about 30.5% of the total Budget, and the sum of N51,222,641,632.49 only, or about 33%, for Overhead Costs. 19.

The Governor, among other things, promised that the Recurrent Expenditure Estimates would focus on his administration’s obligation to faithfully pay the salaries of workers and meet other obligations under the new Pension Laws to retired workers.

Responding, Speaker of the House, Titus Uba commended the Governor for the presentation and committed the proposed budget to the Rules and Business Committee to be slated for second reading.