Gombe State Assembly passes 2022 Appropriation Bill

Gombe State Assembly passes 2022 Appropriation Bill

The Gombe State House of Assembly has passed the 2022 Appropriation Bill of 154,963,964,000 naira.

It reflects an increase of 353,350,000 naira over the initial sum of 154,610,614 000 naira proposed by Governor Muhammadu Inuwa Yahaya.

Presenting recommendations in a report on the floor of the House, the Chairman, House Committee on Appropriation, Mr Aliyu Baba Manu, said this year’s Budget Estimate was derived from the Gombe State Development Plan (DEVAGOM) 2021 to 2030; Medium Term Expenditure Framework (MTEF); Fiscal Strategy Paper (FSP) and Budget Policy Statement (BSP) 2022 to 2024 with Macroeconomic assumptions of oil production of 1.

8 Million Barrels Per Day at 57 dollars per barrel.

The exchange rate of 410.

15 naira to a US Dollar and Mineral Ratio of 31%, cognizance of the expected Inflation Rate of 13.

50%.

Manu said the budget consisted of a Capital Expenditure of 83 billion, 493 million, 400 thousand naira, representing 53.

9% and a Recurrent Expenditure of 71 billion, 470 million, 564 thousand naira, representing 46.

1%.

“The Budget which has an opening balance of Six Billion Naira (N6,000,000,000.

00) will be funded with Recurrent and Capital  Receipts of One Hundred and Sixty-one Billion, Four Hundred and Ninety-One Million, Nine Hundred and Seventy Four Thousand Naira (N161,491,974,000.

000) with a deficit that will be financed with Internal and External Borrowings of Fifty Six Billion, Eight Hundred Million Naira (N56,800,000,000.

00) leaving Four Billion, Four Hundred and Forty-Nine Million, Eight Hundred and Five Thousand Naira (N4,449,805,000.

00) as Closing Balance,” said Mr Manu.

Highlighting the Sectoral Allocation of the Capital Expenditure, Mr Manu said the Economic Sector had the highest allocation of 57,196,100 000 naira, representing 68.

6%, followed by the Social Sector, which had 19,316, 200,000 naira, representing 23.

1%.

In comparison, the Administrative sector has 4 billion and 374 million naira, representing 5.

2%, the Law and Justice Sector have 2 billion, 607 million and 100 thousand naira, representing 3.

1%.

After a thorough debate, the Gombe State House of Assembly approved the size and sectoral allocations of the 2022 Budget and all the Virements made in the 2021 Budget as recommended by the Appropriation Committee.

Speaking shortly after the passage of the budget, the Speaker Mr Abubakar Mohammed Luggerewo commended the Appropriation Committee to present an articulate report that guided the House in making informed decisions, despite the short time given.

The Speaker also commended Governor Muhammadu Inuwa Yahaya to implement the 2021 Budget and propose a people-oriented 2022 Budget, which had a Capital Expenditure Ratio of 53.

9 to the Recurrent Expenditure Ratio of 44.

1%, taking cognizance of macroeconomic indices.

He called on the Executive Arm to ensure the effective implementation of the budget as approved by the House while urging the Standing Committees of the House to be diligent in their oversight functions on MDAs under their purview to achieve appreciable performance in the implementation of the 2022 Budget.

 
Suzan O.

Gombe State Assembly passes 2022 Appropriation Bill

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