Nasarawa begins 2023 financial accounts with best outlook in 26 years

...Projects 3.75 percent GDP growth, as Sule signs 2023 appropriation bill into law

For the first time in 26 years of creation, Nasarawa State will be opening its financial accounts in the best shape, just as the state government projected its Gross Domestic Product (GDP) in the new calendar year, 2023 to grow by 3.75 percent.

Nasarawa State Governor, Abdullahi Sule, who disclosed this Thursday, after signing the state 2023 appropriation bill into law, at the Government House in Lafia, said, his administration will continue to leverage its policy document to change the fortune of the state.

The governor, who was overwhelmed that the state is opening its accounts in the best financial shape ever since creation in 1996, vowed to consolidate on the gains recorded in the first tenure for the overall progress of the state.

Sule further assured that, his administration would strictly adhere to budgetary provisions, towards ensuring successful implementation of the fiscal document, for the benefit of the people of Nasarawa State.

“I am happy that we have just signed the 2023 appropriation bill into law. I am also happy to announce that, by the grace of God, we are going to open the 2023 based on our accounts, as the best so far, that it has ever been in the history of Nasarawa State,” he stated.

He noted that, the signing into law of the 2023 budget will afford his administration, another opportunity to begin the constitutional 12 months budget circle implementation, commencing on the 1st of January, to 31st of December 2023.

“I have no doubt that we will continue to work together, more closely towards the realisation of our common goals and the execution of people oriented programmes and policies for the overall development of our state,” the Governor said.

Sule, however emphasized that, even though the government is presently in transition, with the 2023 general elections fast approaching, his administration will not be carried away by electioneering but will remain focused as it fully implement the budget.

“Let me clearly state that even though we are in transition, I want to assure you that, we will remain committed to the full implementation of the budget without being carried away by electioneering activities.

Read also: Fashola underscores importance of infrastructure, says it’s key to unlock economy

“This is believing that our primary responsibility as a government, is to ensure the protection of lives and the provision of dividends of democracy to our people.

“We shall continue to leverage on our policy document as it relates to education, health, agriculture, security, economic empowerment and general infrastructure.

“We shall do this to consolidate on the achievements recorded in our first tenure for the benefit of our people and to set the tune for continuity and sustainable development,” he stated.

The Governor appreciated the Speaker of the State Assembly, Ibrahim Balarabe Abdullahi, other principal officers and the entire members for their prompt consideration and speedy passage of the 2023 fiscal appropriation bill into law.

“This show of partnership, will no doubt, enhance our collective responsibility in the provision of purposeful leadership towards accelerating the pace of development in our dear state,” he said.

The Governor, however said that, the 2023 budget will be predicated on the specific parameters and fiscal assumptions namely oil price of 70 USD per barrel, daily oil production estimated at 1.695m barrel/day, inclusive of the condensate of 400, 000 barrel/day, exchange rate of N435 to the USD, as well as 17.16 percent inflation rate.

He explained that, these assumptions informed the decision of his administration to submit a budget size of the sum of N148, 958, 122, 525. 05.

“However, owing to exigencies, the House thought it expedient to increase the size of the budget to the sum of N149, 315, 944, 207. 62, which was equally passed, which I have just signed,” Sule said.

He added that, the difference between the 2022 budget and that of 2023, stands at N33, 593, 129, 664. 31.

Earlier, the Speaker, Nasarawa State House of Assembly, Ibrahim Balarabe Abdullahi, appreciated the existing partnership and cooperation between the executive arm of government and the legislature, which saw to the timely passage of the 2023 budget.

Balarabe-Abdullahi particularly appreciated heads of Ministries, Departments and Agencies, for fully cooperating with the House standing committees, to enable the House achieve its target of passing the budget in time.

The speaker also thanked members of the various standing committees, who spent weekends working on the document to facilitate timely passage of the budget.

“I want to add, that it’s my hope and prayer, that this existing cooperation between the executive arm of government and the legislature should be sustained,” the speaker added.


Governor Abdullahi Sule signing the 2023 appropriation bill, while other other top government officials looks on, at the government house, Lafia.

Widget Code-