By Femi Bolaji

TARABA State Government has budgeted N4.72 billion for the state pension board in 2022.

Commissioner for Budget and Planning, Solomon Elisha, announced this while giving a breakdown of the state’s 2022 approved budget estimate of N149.78 billion.

The 2022 budget whose implementation is expected to commence this month in compliance with the January to December budget cycle, has an opening balance of N350 million.

The state is also expected to spend N78.07 billion on recurrent expenditure while capital expenditure is projected to gulp N71.71 billion.

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Elisha said the 2022 budget would be funded from the state’s expected revenue.

According to him: “33 percent of the expected revenue would come from statutory allocation (N50.66 billion), 12 per cent from Value Added Tax, VAT (N19 billion), 21.50 percent from Loans (N32.23 billion), 12.24 per cent from Aids and Grants (N18.3 billion), 6.66 per cent from IGR (10.31 billion) and 12.60 per cent from Federal Government Support Facilities (N18.85 billion).

“In this regard, there is a need for all hands to be on deck to explore the abundant untapped resources to actualise our dream of becoming the leading economy in the North-East region.”

He urged all Ministries, Departments and Agencies, MDAs, of the state government to comply with government’s directive of blocking leakages and remitting all internally-generated revenue.

VANGUARD NEWS NIGERIA

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