Governor Samuel Ortom of Benue State, on Wednesday, proposed a budget draft of N155.6billion for 2022 fiscal year to the State House of Assembly.
Daily Trust reports that the 2022 budget is over N20bn higher than the 2021 resilience budget of N134.3bn.
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Ortom while presenting the N155.6bn estimates before the lawmakers intimated that of the amount, N99.5bn would be expended on Recurrent Revenue.
He said that the 2022 budget christened, ‘Budget of Economic Growth and Human Capital Development’ took into consideration the need to once again explore every opportunity to ensure that “this budget works for our people despite the challenges and risks.
“We continue to analyse the sustainability of our debts and to seek to restructure them so as to reduce the monthly repayment burden on our revenues.”
The governor disclosed that the Economic sector takes the highest share of N56.7bn followed by the Social sector with the sum of N46.9bn and the Administrative sector got N43.8bn while the Law and Justice sector has the lowest share of N8.16bn.
He added that the Recurrent expenditure stood at N98,7bn while N47.5bn was earmarked for Personnel cost as Overhead cost got a share of N51.2bn and Capital expenditure was pegged at 56.8bn.
Receiving the estimated budget, Speaker of the House, Titus Uba, assured that the House would ensure speedy passage of the budget as he appealed for cooperation of his members and the various MDAs to achieve success.
