• Wednesday, April 24, 2024
businessday logo

BusinessDay

Governor Fintiri presents 2024 fiscal budget of N225b

Governor Fintiri presents 2024 fiscal budget of N225b

Adamawa State Governor Ahmadu Umaru Fintiri has presented before the State House of Assembly 2024 proposed budget worth N225,893,690,626,00.

The 2024 proposed budget tagged “Budget of Reengineering” followed an approval by the Adamawa State Executive Council in it’s 9th meeting presided by the Governor Ahmadu Fintiri.

While presenting the budget Ahmadu Fintiri, said that the 2024 budget main focus was to foster economic growth of the state on projects and programmes and fasten economic development of the state.

Read also: Fintiri brokers peace, re-solves Military-Police feud

This according to him has become necessary to ensure that the positive economic impact that will change the standard of living of the people will become a reality.

He further added that the budget is articulated on the current Economic indicators of: oil production bench mark, oil price bench mark, exchange rate, national real GDP growth rate and national inflation rate.

Thus, out of the total budget estimate N111,379,586,126.00 which represented 49.5 percent of the budget was earmarked for the recurrent services of the state.

While the balance of N114,514,104,500.00 which represented 51.7 percent of the total proposed budget is earmarked for capital development programmes and services in the state.

So far base on the breakdown the State Ministry of Works and Energy has taken the largest share of the budget worth over N25b, representing 22.25 percent of the budget.

Then followed by Ministry of Education and Human Capital Development with over N15b representing 13.60 percent of the total budget estimate.

Others include; ministries of Health and Human Services, Finance, Housing and Urban Development and Youth and Sports, apportioned a share worth over N6.388b, N6.066b, N4.994b and N4.604b respectively.

While acknowledging the bleak economic realities, Fintiri maintained that Government has strategically assessed the state projected revenue so as to placed it’s priority right and it’s expenditure proportionate to what is economically realistic.

“Thus, the 2024 Budget proposal is crafted to complete critical infrastructure projects which were earlier awarded, build new ones, invest hugely in our education sector, inject more resources in the health sector, pay more attention to Agriculture and deploy adequate resources and energy to youths and women empowerment”.

He expressed optimism that the steps taken on the budget will no doubt addressed structural and social problems in the state economy and attracted necessary enablers for progress, peace and investment.

Read also: Fintiri wants FG to build buffer dam in Adamawa to check flood disaster

He assured that the civil servants will continue to receive government priority in the coming year while also looking forward to settle pension and gratuity of retirees among other areas in need of government attention.

He noted that the proposed Budget is in line with the 2024- 2026 Medium-term Expenditure Framework and Fiscal Strategy Paper (MTEF and FSP).