"> Okowa, Masari, Fayemi present 2021 Budget Proposals to Assemblies - Sahel Standard
March 5, 2021
News Top Stories

Okowa, Masari, Fayemi present 2021 Budget Proposals to Assemblies

Three governors – Ifeanyi Okowa (Delta), Abdullahi Umar Ganduje (Kano) and Kayode Fayemi (Ekiti) – on Tuesday presented their states’ budget proposals for 2021 to the Houses of Assembly in Asaba, Katsina and Ado-Ekiti.

Okowa, who presented an Appropriation Bill of N378.48 billion, told the lawmakers that the Bill comprised N207.52 billion for Capital Expenditure and N171.32 billion for Recurrent Expenditure.

He said the capital expenditure constituted 54.76 per cent of the budget while 45.24 per cent represented recurrent expenditure.

The 2021 budget is N96.2 billion or 34.05 per cent higher than the N282 billion revised approved budget of 2020.

Okowa said N113 billion, representing 89.94 per cent of the capital budget, is allocated to the economic sector, while N35 billion is allocated to the social sector; the administration sector got 10.93 billion and the regional sector, N42 billion.

“In 2021, we propose to spend N66.66 billion on Road Infrastructure; N6.79 billion on Health; Education will gulp N23.55 billion; Agriculture, N2.04 billion and Water Sector, N1.83 billion.

“Job and Wealth Creation Bureau will gulp N1 billion and Youth Development, N1.25 billion. These key sectors are very essential in our 2021 budget,” he said.

Speaker Sheriff Oborevwori noted that with the feat achieved by the current administration in five years, the Assembly would continue to support the state government by passing people-oriented and development-driven laws.

Majority Leader Tim Owhefere moved the motion to accept the Appropriation Bill and he was seconded Minority Leader Innocent Anidi.

The lawmakers also approved a motion slating the second reading of the Bill for today.

Ganduje presented a budget proposal of N147.9 billion for the House of Assembly’s consideration.

The proposed budget is N58.4 billion lower than this year’s N206.3 billion estimates.

The governor said the budget proposal is in line with the prevailing economic reality on the ground, including the COVID-19 pandemic.

“This is a sign of good governance,” he said.

Ganduje christened the 2021 Appropriation Bill “Budget for Economic Recovery and Sustainable Development.”

The budget has a recurrent expenditure of N73.3 billion, consisting of N7.7 billion as Consolidated Revenue Fund Charges, including the N55.6 billion earmarked as personnel cost and N9.10 billion overhead cost.

Capital expenditure stands at N74.7 billion, which is higher than that of the 2020 revised budget by N14.1 billion.

The governor said the recurrent revenue to be collected, estimated at N106.1 billion, consists of N24 billion from internally generated revenue (IGR) and N52.3 billion statutory allocation from the Federation Account.

Other sources include the Value Added Tax (VAT), which stands at N28.4 billion, and capital receipts, which stand at N1.5 billion.

Ganduje explained that the capital expenditure will be financed by N32.8 billion expected from Recurrent Revenue Surplus and total capital receipts of N41.8 billion.

The capital receipts have N6.03 billion as expected Internal and External loans drawdown. While the estimated general grants stand at N33.3 billion, miscellaneous receipts stand at N2.2 billion, with treasury opening balance of N263.6 million.

A breakdown of budget shows the Education sector taking the lion share of N37.8 billion, representing 25 per cent of the total budget; Health has N25.5 billion, representing 17 per cent of the budget.

The budget allocated N3 billion each for the take-off of Kano light train project as well as Housing and Transport activities.

The Agriculture Ministry got N5.7 billion, while the Information Ministry got N2.5 billion.

Speaker Abdulaziz Garba Gafasa said all the commissioners and heads of corporations will be invited to defend their estimates.

Fayemi presented N109.6 billion budget proposal, tagged: Budget of Recovery and Economic Restoration.

Giving a breakdown of the budget, the governor said N57,997,989,982.62 is for recurrent expenditure, representing 53 per cent, while N51,668,386,739.99 is for capital expenditure, representing 47 per cent of the budget proposal.

The sectoral breakdown of the budget, premised on the five pillars of the Fayemi administration, indicates that Social Investment got N25,274,622,256 (23 per cent); Governance, N29,322,242,503.22 (27 per cent); Agriculture, N7,920,439,216.75 (7 per cent); Infrastructure, N25,217,177,807.67 (23 per cent) and Knowledge Economy, N21,931,894,938.68 (20 per cent).

Fayemi said the proposed budget would consolidate on the 2020 fiscal budget with which he said his administration had revved up the pedal of development in health, education and social investments, among others.

The governor explained that the budget proposal was a product of wide consultation and liaison with members of the public through town hall meetings across the three senatorial districts.

He added that the proposed budget was prepared amidst the global economic challenges occasioned by the COVID-19 with a view to revamping the ailing economy to a buoyant state through strategic investments in critical sectors.

The governor noted the budget would be funded through federal allocation, Value Added Tax (VAT), Internally Generated Revenue (IGR) and financial support from development partners.

Speaker Funminiyi Afuye assured the governor that the Assembly would ensure a speedy passage of the budget to enable the people benefit from more dividends of democracy.

Please follow and like us:

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: