By Andy Asemota
The total budget of Katsina State Government for 2020 fiscal year has been slashed downward again from N244 billion to N179 billion after it had earlier been reviewed to N213 billion following the impact of COVID-19 on the price of crude oil.
The state commissioner for budget and economic planning, Alhaji Farouk Lawal Jobe, who revealed this in Katsina yesterday after the state executive council meeting presided over by Governor Aminu Bello Masari, said the current review is based on the benchmark of 25 dollars per barrel as against the preview benchmark of 30 dollars perbarrel.
He stated that the N244 billion budget that was approved in January, 2020, based on federal government benchmark of 57 dollars per barrel was cut down for the second time to conform with economic reality.
Jobe said the total budget size now N179, 199, 378,411 as against the previous revised budget N205, 453,094,255 still had a deficit despite the fact that the state government had cut down its capital and recurrent expenditures.
The state government which expected to have a deficit of over N8.2 billion in the first reviewed budget now has a deficit budget of over N3.4 billion, he announced.
He said the second reviewed budget will be presented to the state house of assembly for passage into law as most of the budget indices have changed and government has to do something to address them.