Governor Ibrahim Hassan Dankwambo of Gombe State has presented a a budget of N118, 737, 439, 791 billion for the 2019 fiscal year before the state House of Assembly for approval.
Presenting the proposal tagged “Budget of Posterity,” Dankwambo said it was designed to enhance growth of economic and human development of residents of the state.
The governor said the budget had N60.6 billion as recurrent expenditure and N58.1 billion as capital expenditure.
He said the budget will be financed by an estimated recurrent revenue of N90.7 billion and capital receipts of N65.7 billion, with a deficit of N13.9 billion to be financed by internal and external borrowing.
Dankwambo said the 2018 budget recorded recurrent performance of 70.08 per cent, while capital expenditure has 30.55 per cent budget performance, and a total performance of 2018 budget at 49. 77 per cent as at October 31, 2018.
The governor said projected Internally Generated Revenue (IGR) to finance the estimated recurrent revenue receipts was N12.2 billion and N49 billion from statutory allocation as well as N29.55 billion from other sources.
In his response, the Speaker of the House of Assembly, Alhaji Nasiru Abubakar Nono, said the house will ensure that the budget received a speedy scrutiny to ensure its early passage.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
