Friday, January 28, 2022

    Adamawa State Government Presents 2022 Draft Budget of N163bn

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Daji Sani

    The Adamawa State Governor, Mr. Ahmadu Umaru Fintiri, yesterday, presented a budget estimate of N163, 629, 910, 040.00 for 2022 fiscal year to the Adamawa state House of Assembly for consideration.

    The budget is made up of N98.8 billion, representing 60 per cent, for recurrent expenditure while N64.7 billion, representing 40 per cent, is allocated to capital expenditure.

    The summary of the estimate in terms of revenue projected include statutory allocation; N48.9b, and share of Value Added Tax (VAT); N18.8b.

    Others include excess crude, N1.5 billion; stamp duty, N2 billion; exchange rate difference, N2.6 billion and stabilisation fund receipts; N2.5 billion.

    The rest are non-oil revenue, N1.5 billon; support fund, N15.7 billion; internally generated revenue, N11.5 billion and capital receipt of N58.4 billion.

    Fintri said that the 2022 proposed budget has been carefully packaged to consolidate on the steady gains recorded in the years 2020 and 2021 budgets.

    He revealed that the state government has proposed to spend N21billion on urban and rural roads while it planned to reduce housing deficit in the state by ensuring the completion of 1,000 housing units.

    Fintiri added that the government would complete the resuscitation of the existing fertilizer blending plant in the state as a matter of priority in the next fiscal year.

    He thanked members of the State House of Assembly for their immense cooperation, revealing that Adamawa is one of the few states in the federation that have maintained cordial working relationship between the legislature and the executive.

    Responding, the Speaker Adamawa State House of Assembly, Hon. Aminu Iya Abbas, commended Fintiri for his peoples’ oriented projects and assured him of the passage of the budget before this year runs out.

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