Gov. Umaru Al-Makura of Nasarawa State on Wednesday presented a budget proposal of N122.8 billion for 2018 fiscal year to the State House of Assembly for approval.
The governor while presenting the bill christened “Budget of Sustainable Development” on the floor of the house in Lafia, assured the citizens of the state of his administration’s commitment toward completing all ongoing projects.
He said that the proposal had an increase of N31.3 billion over the 2017 figure representing 34.2 per cent.
Al-Makura said that N45.2 billion, representing 36. 8 per cent of the budget was for recurrent expenditure, while N71.06 billion representing 57.8 percent was for capital expenditure.
He said the budget had anticipated a revenue receipt of N95.68 billion.
The governor said that the deficit in the budget would be financed by a N10 billion loan facility from some development partners as a well as the 2018 opening balance of N8.4 billion.
Al-Makura said the budget would help in creating conducive environment for participation of the informal sector in income generation and sustainable productivity as well as provide employment opportunity for the youth.
He also said that the government would not relent in its determination to strengthen internal control mechanism in its management of the state’s finances.
The governor said this would afford his administration to effectively monitor activities of Ministries, Departments and Agencies (MDAs) in line with its fiscal expenditure framework.
“This will further sustain our resolve for transparency and accountability in view of our lean resources.
“The adoption of Treasury Single Account (TSA) will also promote the fiscal discipline and block all financial leakages in our various operations,” Al- Makura said.
Also speaking, Mr Ibrahim Balarabe-Abdullahi, the Speaker of the house assured the governor of a speedy passage of the budget.
The News Agency of Nigeria (NAN) reports that the Ministry of Works, Housing and Development got the highest allocation of N37.30 billion.
The Judicial Service Commission got the least allocation of N173 million.
NAN
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