Gov. Simon Lalong of Plateau on Thursday presented a budget of N106. 807 billion for the year 2022 to the State House of Assembly for consideration and passage.
Lalong,while presenting the estimates, said that out of the proposed sum, N76.3 representing 71.4 per cent of the total budget, is for recurrent expenditure, while N30.5 billion representing 28.6 per cent of the total budget was earmarked as capital estimate.
“This indicates a decrease of N40.7 billion only on the 2021 total (N147.5 billion) approved budget. “
Mr Speaker, the fiscal assumptions and parameters for the 2022 proposed budget Estimates are: exchange rate of N410.15 per US Dollar and Projected Gross Domestic Product GDP of 4.2 per cent.
“Others include, crude oil price of 57 Dollars per Barrel, daily crude oil production of 1.88 million barrels and 13 per cent inflation rate,” he explained. He told the assembly that revenue for the budget would come from Internally Generated Revenue (N24.2 billion), Statutory Revenue Allocation (N55 billion) and Aids and Grants (N3.9 billion).
The governor further explained that it was expected that the state would also get revenue from Capital Development Fund (3.6 billion) and Domestic Loans (20 billlion).
According to him, the rationale behind the budget was to continue to emphasize the present administration’s commitment and resilience in governance, policy and programme implementation as well as sustainability in socio-economic prosperity of Plateau.
He said that the desire of the administration was to continue consolidating on its previous achievements since it came into office.
Lalong stated that the budget was prepared under a reasonable degree of consistency both in policy and implementation to enable the government to achieve the vision of the three-pillar policy of Peace, Security and Good governance, Infrastructural Development and Sustainable Economic Rebirth.
The speaker, Abok Ayuba, in his remarks, said that as an arm of government, the assembly was committed to assiduously working with the executive arm in order to provide the necessary dividends of democracy to the people of the state. “
In so doing, let me make it clear that the House will not condone ineptitude on the side of any chief executive or accounting officer in the course of the discharge of his/her responsibilities. “
Let me also state here in strong terms that all Ministries, Departments and Agencies (MDAs) are to take the budget defense sessions seriously. “
The House intends to thoroughly examine the estimates and ensure the allocation of funds to only programmes that are of relevance to the people of Plateau,” Ayuba said.
He urged all revenue yielding agencies and departments, in particular, the Plateau State Internal Revenue Service, to put all hands on deck so as to raise the internally generated revenue profile of the State.
The speaker assured the governor that the House was resolute in its desire and commitment to give him all the necessary legislative backings on any and all the good plans that he had for the state. (NAN)
