By Wole Mosadomi, Minna

GOVERNOR Abubakar Bello of Niger State, has presented N198, 245,654,759.75 billion budget proposal for 2022 to the State House of Assembly for approval.

Tagged “Budget of Prosperity and Sustainable Development”, the budget shows an increase of 12.75 percent or N44, 830,032,983.28 compared to the budget of 2021 of N153, 412,621,776.47. While presenting the proposal, the governor said the 2022 proposed recurrent estimate was made up of the recurrent expenditure of N74,157,965,942.06, representing 37.41 percent of the proposed budget and an increase of 1.07 budget N1, 574,764,111.18) compared to the 2021 budget of N72,583,201,830.88.

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According to him, the estimated capital expenditure of N124, 087,688,817.69 for the 2022 fiscal year represented 62.59% of the total budget of N198, 245,654,759.75 for the year, representing an increase of N43, 258,268,872.10 or 21.11 percent above the capital expenditure of N80, 829,419,945.59 of the 2021 budget.

Bello said the budget proposal was to be financed through the Statutory Allocation of N54,282,412,426.00 or 27.39 percent, Value Added Tax of N20,792,440,780.00 or 10.49 percent,  Internally Generated Revenue of N17,190,944,156.00 or 8.68, Excess Crude and other Revenue amounting to N4,870,724,375.00 or 2.44 percent.

Vanguard News Nigeria