The Yobe Governor, Alhaji Ibrahim Gaidam, on Thursday, presented a budget proposal of N91.6 billion for the 2019 fiscal year to the state assembly.
While presenting the budget, the governor said that N41.6 billion was proposed for capital expenditure while N49.9 billion was for the recurrent expenditure.
According to him, the budget proposal tagged “Budget of Consolidation’’ was designed to attain the agenda of his administration for developing the state.
“Gaidam added that the projected income to finance the budget is expected to be generated from Treasury Opening Balance, Internally Generated Revenue(IGR), Statutory Allocation and Value Added Tax (VAT)
“Other areas of funding are Ecological Fund, Stabilisation Fund, and Excess Crude Oil which brings the total amount to N77.9 billion”.
Regarding the sectorial allocation, of both capital and recurrent expenditure, the government said “Economic sector is estimated to consume N3.6 billion, Governance N17.4 billion and Regional N4.4 billion.
“While Law and Justice is estimated to consume N2.2 billion, Social sector is estimated to consume N36.8 billion in both capital and recurrent expenditures”.
In an interview with the state Commissioner of Budget and Planning, Alhaji Idi Gubana, shortly after the budget presentation, he noted that IGR of the state has dropped significantly as a result of insurgency.
He however, reassured that before May 29, 2018 all the ongoing projects in the state would be completed.