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Gov Gaidam presents N92.2bn budget for 2018 to Yobe assembly

The Yobe State Governor, Alhaji Ibrahim Gaidam, on Tuesday presented a 2018 appropriation bill of N92.2bn to the state’s House of Assembly.

The proposed budget tagged ‘Budget of consolidation and socio-economic rejuvenation,’ is an increase of N9.6bn or 10.4 per cent over the total spending of N82.6bn in the 2017 fiscal year.

Gaidam said the budget was aimed at revitalising the educational system and returning it to its former glory; increasing access to health facilities through upgrading of infrastructure, providing basic requirements and human resource for health; and promoting agricultural activities as veritable tool for poverty alleviation.

He also mentioned job creation and food security, taking further steps towards reducing the cost of conducting government business; promoting and upgrading infrastructural facilities such as roads, water and electricity supply towards reducing rural-urban migration and accelerating Post-Insurgency Peace and Recovery efforts.

Gaidam also said the budget would harness the abundant solid minerals, tourism and commercial potential and other endowments towards diversifying the internal revenue generation base of the state; increase involvement of citizens in the ownership and management of productive enterprises in the state as well as reorientate the workers on positive attitude to work.

The works, transport and energy sector has the highest allocation of N17.5bn with the education sector allocated N7.9bn, followed by the health sector with N6bn.

The budget has a total recurrent expenditure of N47.4bn and a total capital expenditure of N44.7bn.

It is expected to be financed by the treasury opening balance (N4bn), internally generated revenue (N4.5 bn), statutory allocation(N36.9bn), Value Added Tax (N8.6bn), ecological fund (N2bn), stabilisation fund (N150m), excess crude oil/exchange rate differential (N4.2bn), grants (N4.3bn), external loans (N490m), internal loans (N15.4bn), debt relief (N7.7bn) and miscellaneous (N4bn).

PUNCH

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