By Umar Yusuf
YOLA â€”Â Governor Murtala Nyako of Adamawa State has presented the budget proposal N67,462,945,510.00 to the state House of Assembly for its services forÂ the 2010 fiscal year. OfÂ the amount, N26,952200,785.00 would be from the statutory allocation.
Nyako, who made the presentation on Wednesday said N20,618,996,955.00 would be derived from capital receipts while N7,193,831,280.00 would be from excess crude oil.
He said N6,609,000,000.00 and N6,097,916,490.00 would respectively be derived from ValuedÂ Added Tax,VAT, and internally gnerated revenue.
The governor said N34,000,000,000.00 would be expended on transfer to capital expenditure and N12,844,234,235.00 for overhead cost.
Similarly, N8,983,930,765.00 would be for consolidated Revenue Fund while N11,634,780,510.00 is for personnel cost.
He said the budget was intended to be pragmatic and purposeful, hence he craved the indulgence of House of Assembly to join hands with the executive arm of government to actualise the budget christened â€œBudget of actualisation.â€
According to him, the key component of the budget was for the completion and expansion of ongoing projects which were of strategic importance to get Adamawa citizens out of poverty and increase internally generated revenue.
He observed that the dearth of energy had been a great stumbling block to raising economic activity in the state and the budget is optimistic at putting a end to the problem of energy in the state.