Governor Muhammadu Badaru Abubakar of Jigawa state has presented a financial plan of N127.87 billion to the State Legislator s for the 2017 fiscal year for considerations.
The proposal which is tagged ‘Budget of Economic Diversification and Self –Sufficiency’ is lower by about N10 billion than that of the out-going financial year.
Presenting the budget at a brief ceremony at the State House of Assembly on Tuesday, Governor Badaru said that the proposal is primarily geared a ensuring the completion of most of the socio- economic development projects kick started by his regime.
According to him, the budget was fashioned to promote rapid growth of the real sector of the State `s Economy notably in the area of agriculture and Micro, Small and Medium Enterprises.
The proposal, he added was also programmed to continue the improvement of the Human Capital Development Services, and ensure that more citizens of the state are empowered to live a dignified and decent life.
In the same vein, he disclosed that the budget was conceived with the aim of improving the Business Environment, as well as engineered the Investment Climate that will gear expansion of the participation of the private sector in economy development.
Governor Badaru stated that the budget would be finance to the tune of over N12 billion from Internally Generated Revenue (IGR), while the sum of about N46 billion would come from Statutory Allocation and Value Added Tax.
About N17 billion of the proposed budget would be coming from Local Government Contributions for Primary Education Personnel and Primary Healthcare Staff, N19 billion coming from Opening Balance for 2016, and #9 billion will come from Internal and External Loan, in addition to about N24 billion to come from Other Capital Receipts, Grants and Reimbursement.
A break -down of the proposed expenditure for the year indicates that about N6 billion goes for Consolidated Revenue Fund Charges, about N38 billion for Personnel Cost, N17.8 billion for Overhead Cost, N66 billion for Capital Expenditure, and N800 million goes into Stabilization and Contingency Fund.
The biggest single allocation of N21.2 billion was allocated for Road and Transport Development, Agriculture and Livestock get the second largest allocation of N6.15 billion, Commerce and Investment gets N1.92 billion, Economic Empowerment received N0.73 billion, and Rural Electrification and Alternative Energy received No.30 billion.
“I am pleased to say that we have proactively acted to ensure that our fiscal plans are crafted in such a way that they are aligned with and supportive of the economic recovery and growth plan of the Federal Government” the Governor noted.
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