Niger State Governor, Abubakar Sani Bello, has presented a N198, 245, 654, 759.75 budget for the year 2022 to the House of Assembly.
The budget tagged: “Budget of Prosperity and Sustainable Development”, represents an increase of N44, 830, 032, 983.28 (12.75 per cent) compared to the 2021 budget.
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The breakdown as presented by the governor shows that recurrent expenditure is N74, 157, 965, 942.06, while capital expenditure is N124, 991, 632, 217.71.
Gov Bello said the economic sector which comprised agriculture and rural development, livestock, infrastructural development, commerce and investment, energy, water supply, transport and environment had the lion’s share of N87, 423, 417, 474.10 (71.08 per cent) of the capital allocation.
The social sector such as health, education, social development, youth and sports came second with N25, 360, 050, 078.44, representing 20.72 per cent.
He said the budget would be funded by statutory allocation (27.39 per cent), Value Added Tax (10.49 per cent), Internally Generated Revenue (8.68 per cent), Excess Crude Oil and other revenues (2.44 per cent), Refund from North South Power (0.24 per cent) and Capital Receipts (50.65 per cent).
“In 2022, we shall strive to consolidate the gains of the previous years, complete ongoing projects and propel the economy on the sustained growth and prosperity for Nigerlites with available resources,” he said.