Bauchi Governor presents N213 billion for 2021 fiscal year

Global Patriot Staff December 16, 2020 Local, News Leave a comment 179 Views

Senator Bala Mohammed,
Governor of Bauchi State

From: Ruth Yarnap, Bauchi

Bauchi state Governor Bala Abdulkadir Mohammed has presented a N213 billion budget for the 2021 fiscal year to the state’s House of Assembly.

The Governor, while presenting the appropriation bill tagged “Budget of Consolidation ”, said that N 93, 197,307,970 billion, representing 44 per cent, was for recurrent expenditure and N 120, 717,251458 billion, representing 56 per cent, was for capital expenditure.

” This year’s budget is higher because it was prepared in such a way that projects and programmes captured will most likely be implemented. We have focused our attention on projects that are strategic for development of the state”, he said.

According to him the budget has been predicated on the National assumption on oil production, benchmark oil price, exchange rate of Naira to US dollar and a robust and efficient system of internally generated revenue collection.

The Governor said that the budget is to be financed by recurrent revenue estimates of N180 billion, and capital receipts of N105 billion, lamenting that a number of challenges were faced in the implementation of 2020 budget which led to the downward review of the budget to N129 billion due to dwindling revenue as a result of the COVID 19 pandemic, which stagnated the world economy in all it’s ramifications.

Bala Mohammed said, “despite these challenges, we were able to record moderate success in the implementation of the 2020 budget.Out of the budgeted revenue, included excess crude of 61 billion, only the sum of 34 billion was realised as at 30th September 2020”

The Governor added, “in the same vein, value added tax revenue recorded a performance of N13 billion against the budgeted figure of N18 billion.This is a clear indication of budget performance in the midst of budget uncertainty and challenges. Independent revenue generation was also high as the sum of N13 billion was realised against the budgeted figure of N21 billion as at 30th September 2020” .

In his address , the Speaker Bauchi House of Assembly, Honourable Suleiman Abubakar assured that the assembly will do justice to the proposed budget as provided by the law, adding that the house will allow the budget to undergo second reading immediately and commit it to the Appropriation Committee for further legislative action.