Plateau State Governor, Simon Lalong, yesterday, presented the 2022 appropriation bill of over N106bn to the State House of Assembly for consideration and passage.
Lalong, while presenting the estimates tagged: “Budget of economic recovery and consolidation of inclusive infrastructural growth 2” said that out of the proposed sum, N76.3 representing 71.4 per cent of the total budget, is for recurrent expenditure, while N30.5 billion representing 28.6 per cent of the total budget was earmarked as capital estimate.
He said: “This indicates a decrease of N40.7 billion only on the 2021 total (N147.5 billion) approved budget. Mr Speaker, the fiscal assumptions and parameters for the 2022 proposed budget estimates are: exchange rate of N410.15 per US Dollar and Projected Gross Domestic Product GDP of 4.2 per cent.
“Others include, crude oil price of 57 Dollars per Barrel, daily crude oil production of 1.88 million barrels and 13 per cent inflation rate,” he explained. He told the assembly that revenue for the budget would come from Internally Generated Revenue (N24.2 billion), Statutory Revenue Allocation (N55 billion) and Aids and Grants (N3.9 billion).
“The governor further explained that it was expected that the state would also get revenue from Capital Development Fund (N3.6 billion) and Domestic Loans (N20 billlion).
He said the rationale behind the budget was to continue to emphasise the present administration’s commitment and resilience in governance, policy and programme implementation as well as sustainability in socio-economic prosperity of Plateau.
Lalong stated that the budget was prepared under a reasonable degree of consistency both in policy and implementation to enable the government to achieve the vision of the three-pillar policy of Peace, Security and Good governance, Infrastructural Development and Sustainable Economic Rebirth.
Responding, the Speaker of the State Assembly, Abok Ayuba commended the governor for the timely presentation of the 2022 fiscal estimate and assured of the Assembly’s commitment to “provide the necessary dividends of democracy for the people.” He, however, warned that “the House will not condone ineptitude on the side of any chief executive or accounting officer in the course of the discharge of his or her responsibilities.”
“The House intends to thoroughly examine the estimates and ensure the allocation of funds to only programmes that are of relevance to the people of Plateau,” Ayuba said.
He urged all revenue yielding agencies and departments, in particular, the Plateau State Internal Revenue Service, to put all hands on deck so as to raise the internally generated revenue profile of the State.
The speaker assured the governor that the House was resolute in its desire and commitment to give him all the necessary legislative backings on any and all the good plans that he had for the state.