Graham Abel, Yola
The Adamawa State governor, Ahmadu Umaru Fintiri has presented an appropraition bill of N183.3 billion to the Adamawa State House of Assembly on Tuesday in Yola, Adamawa State.
While presenting the budget tagged “Budget of Rebirth” Fintiri said his government will focus its attention on key areas of education developement, effective healthcare delivery, modern agricultural developement, water supply, works, and improvement on rural infrastructure as a strategy for driving growth and development in the state.
The governor explained that the 2020 budget earmarked about 53% of the estimate for capital development programmes and about 47% of the budget had been allocated for recurrent services.
Speaking at the budget presentation in Yola, Governor Fintiri said: “This economic policy focus which is based on the Federal Government directives has now become the principal and cardinal economic policy thrust objective of this administration to forge the state forward.
“This is expedient so that it will impact positively on the socio- economic lives of our people in line with this policy objective and our mission towards the transformation of the state, that the 2020 proposed annual budget has been carefully articulated, with the view to attaining faster economic development of the state.
“We have therefore christened it “Budget of Rebirth.”
Fintiri said: “Having acquainted you with the general performance of the current year’s Approved Budget and in consideration of all economic factors, I wish to humbly present a total sum of One Hundred Eighty Three Billion Three Hundred and Sixty Million Six Hundred and Ninety Nine Thousand Four Hundred and Eighty Five Naira (N183,360,699,485.00) as the 2020 Proposed Annual Budget towards the financing of both recurrent and capital development programmes in the state in the 2020 fiscal year for your kind consideration and passage into law.
“The budget is articulated on the current national economic indicators of $55 per barrel, 10.36% inflation rate N350 per $1 exchange rate and 3.16% GDP economic growth rate.”
Breaking down the budget further he said: “Out of this total proposed budget estimate, the sum of N85.935 billion which represents 47% of the total proposed Annual Budget Estimate is being earmarked for the recurrent services of the state.
“The balance of N97.424billion which also represent 53% of the total proposed Budget is for Capital Development Programmes and Services in the State.”
The governor explained that the total revenue of N183.360 billion will be generated from Statutory Allocation of N42.63 Billion, VAT N18.10 Billion, Excess Crude N2 Billion and Refund from Paris Club N7.02 Billion.
He explains that: “Others are state share of Budget Support Fund from Federal Government N4.00 Billion, Internally Generated Revenue (IGR) N12.83 Billion, Capital Receipts N97.42 Billion and the balance of N17.72 Billion is from other miscellaneous sources from the Federal Government.”
Explaining the vision of his government, Fintiri said, “This is the first Appropriation bill by this Administration to this Honourable House and the main focus is to foster economic growth of the state from its laudable programmes and projects.
“In line with this Administration’s eleven Point Developmental Agenda Policy, the State Government will accord topmost priority to the following sectors in the 2020 Fiscal Year Budget; Ministry of Education and Human Capital Development – Seventeen Billion Three Hundred and Fifteen Million Five Hundred Thousand Naira (N17,315,500,000.00), Ministry of Works and Energy Development, Sixteen Billion Two Hundred and Seventy Five Million Three Hundred Thousand Naira (16,275,300,000.00), Ministry of Health and Human Development, Ten Billion Naira (10,000,000,000.00).”
Fintiri said his government will work towards scaling down over dependence on the federation account by boosting internally-generated revenue in the state.