Governor Umaru Al-Makura of Nasarawa State on Thursday presented Appropriation Bill of N67.013 billion for 2017 to the state House of Assembly for consideration and passage.
Al-Makura while presenting the bill christened “Budget of Reformation’’ at the floor of the state assembly in Lafia, said the budget was in compliance with International Public Sector Accounting Standard (IPSAS).
According to Al-Makura, N37.012 billion, representing 55.2 per cent of the budget is for recurrent expenditure while N30 billion, representing 44.7 per cent is earmarked as capital expenditure for 2017 fiscal year.
He said that the budget framework indicated a decrease of N13.9 billion against the 2016 budget of N80.9 billion due to the current economic recession.
The governor said that the State Government decided to streamline the 2017 estimates along more realistic, pragmatic and achievable targets.
“This is due to the fluctuating Statutory Revenue Allocation (SRA) from the Federation Account and poor Internally Generated Revenue (IGR) occasioned by the economic recession.’’
He explained that the budget would focus on completion of projects aimed at boosting welfare of citizens and stimulate the economy out of recession.
Al-Makura said that the budget would also be geared towards encouraging youths in agricultural production as a way of empowerment, boosting production, developing value chain and strengthening commercial venture for stable economy.
He urged stakeholders to live up to their responsibilities in order to move the country out recession.
“The onus of moving out of this recession lies with all of us. The task ahead is no doubt Herculean and challenging but with collective determination, we would weather the storm’’, Al-Makura said.
The Speaker of state assembly, Mr Ibrahim Balarabe-Abdullahi, commended the state government on the performance of the 2016 budget.
He said the assembly pegged it at 70 per cent through their oversight functions, in spite of the economic recession.
He assured the people of the state that the assembly will live up to their expectation by studying the appropriation bill meticulously and pass it expeditiously.