Wada presents N75b budget in Kogi, Dankwambo N76.5b in Gombe
Wada, who presented the budget at the floor of the State House of Assembly in Lokoja yesterday, indicated that the total budget outlay is lower than the 2015 budget of N88,617,070,857 by N13, 620, 829, 476 billion representing 15.37 per cent.
A breakdown analyses indicated that the budget total outlay is broken down into recurrent expenditure of N45,337,756,341 representing 60.45 per cent and capital expenditure of N29,658,485,040 representing 39.55 per cent.
The governor said that the 2016 budget has a total estimated recurrent revenue of N49,474,000,000 consisting of N7,854, 000,000 from internal sources, N33,700,000,000 as the state’s share from the Federation Account and N7,920,000,000 from Value Added Tax (VAT).
Also, Governor Ibrahim Hassan Dankwambo of Gombe State has presented a budget proposal of over N76.5 billion for the 2016 fiscal year for the state.
Dankwambo, who presented the budget tagged “Budget of Consistency and Transformation” yesterday to the state House of Assembly presided over by the Speaker, Alhaji Nasiru Abubakar Nono, said that the recurrent expenditure for the 2016 budget is N42.565 billion while the capital expenditure is N34.443 billion.
He said the estimated expenditure is to be financed from an expected revenue of N42.565 billion and capital receipts of N34.91 billion, adding that “we anticipate a budget of N351,842,032.92 for the year, which either shall be covered by borrowing or appropriate expenditure adjustment.”
The expenditure breakdown, as read by the governor, showed that Education has the largest share of N6.20 billion for the Basic Education sub-sector, N1.10 billion for Higher Education, followed by Works and Infrastructure, which was allocated N6.51 billion.
Wada said that SURE-P funds, Excess Crude account and budget augmentation were not captured in the 2016 fiscal year for reason of dwindling crude oil price.
While receiving the budget, the Speaker of Kogi State House of Assembly, Momoh Jimoh Lawal, assured that the House would ensure passage of the budget on time to ease its implementation.
He, however, cautioned members of the Assembly against rancour, saying bickering and heating up of the polity cannot move the state forward.
According to the Speaker: “Now is the time to unite and not the time to divide. The state is our collective patrimony, we must not allow ourselves to be used by external forces to disrupt the peace and stability of our dear state.”
Also responding, Nono thanked Dankwambo for his effort towards the development of the state and pledged the lawmakers’ determination to work with the Executive for the progress of the state.
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