By David Odama
Governor Abdullahi Sule of Nasarawa State, Wednesday, signed the 2021 budet into law with the promise to execute people oriented programmes and projects.
Signing the 2021 budget proposal of N115.72bn into law, Sule commended the synergy and partnership of the lawmakers with the state government towards achieving the collective responsibility to provide leadership and execute policies and programmes for the progress and development of
While appreciating further Members of the House for according the 2021 appropriation bill the desired relevance and attention resulting in the early passage the governor recalled that the 2021 budget proposal is predicated on the National and State oil Benchmark of $40pbn, Foreign Exchange rate of N379/US$1, oil Production Output of 1.86mbn, Inflation rate of 11.95%; an average SRA of N2.9 billion monthly as well as VAT of N991.7m monthly and Exchange Gain of N185.8m monthly.
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He said the 2021 budget is further broken down into N51,050,456,817) only, representing 45.21% of the budget as Recurrent Non-debt expenditure consisting both personnel and overhead costs.
According to Governor Sule, N54,854,985,695) only, representing 48.58% of the total budget was earmarked for Capital Expenditure, while N7,017,732,031 only, was allocated to Consolidated Revenue Fund
Charges for debt servicing, pension and gratuity representing 6.21% of According to the governor, the increased in the budget size will assist the state achieve its goal and realized the focus of ensuring growth in the critical sectors such as education, health, agriculture and infrastructures.
While assuring that the state government will remain focused on achieving results despite the effects of COVID-19 maintained that apart from appreciating the Deputy, Dr Emmanuel Akabe for holding forth while he was away, equally thanked traditional Rulers and the people of the state for their support to his administration.
Also speaking, Speaker of the State Assembly, Rt. Hon. Ibrahim Balarabe Abdullahi appreciated the governor for the timely signing of the budget into law.
lauded Ministries, Departments and Parastatals for cooperating with the legislature in it’s assignments culminating in the successful passage of the 2021 appropriation bill into Law.
The speaker has assured the governor of the House determination to synergize with the executive arm and other arm in order to bring speedy development to the state.
It would be recalled that governor Abdullahi Sule had on November 2020 presented a 2021 budget proposal of N112. 92bn to the state House of Assembly for consideration and approval.