Gombe house of assembly passes N154.9b for 2022 appropriation
Gombe State house of assembly on Tuesday, passed into law the 2022 appropriation bill totalling N154,963,964,000.00, while Economic Sector tops with N57,196,100,000.00 representing 68.6 percent.
According to a press statement issued by the information officer of the house Abubakar Umar, this reflects an increase of N353,350,000.00, over the initial N154,610,614,000.00), proposed by the State Governor Muhammadu Yahaya.
Speaking shortly after the passage of the Budget, the Speaker, Abubakar Luggerewo, commended the appropriation committee for presenting an articulate report that guided the house in taking informed decision despite the short time given to it.
He commended the State Governor Muhammadu Yahaya for what he described as good performance in the implementation of the 2021 Budget and, “for proposing a people oriented 2022 Budget with a Capital to Recurrent Expenditure Ratio of 53.9 to 44.1 percent taking cognisance of macroeconomic indices,” he said.
While calling on the executive to ensure an effective implementation of the budget as approved by the house, the Speaker added, ” I want to call on Standing Committees of the House to be diligent in oversighting on MDAs under their purview to achieve appreciable performance in the implementation of the 2022 Budget.”
Speaking earlier, Chairman Committee on Appropriation, Aliyu Manu said this year’s Budget Estimate is derived from Gombe State Development Plan (DEVAGOM) 2021-2030, Medium Term Expenditure Framework (MTEF), Fiscal Strategy Paper (FSP) and Budget Policy Statement (BSP) 2022-2024 with Macroeconomic assumptions of Oil production of 1.8 Million Barrels Per Day at $57 per barrel, exchange rate of N410.15 to a US Dollar and Mineral Ratio of 31% taking cognizance of the expected Inflation Rate of 13.50% among others.
He said, “The Budget is made up of a Capital Expenditure of Eighty Three Billion, Four Hundred and Ninety Three Million, Four Hundred Thousand Naira (N83,493,400,000.00) representing 53.9% and a Recurrent Expenditure of Seventy One Billion, Four Hundred and Seventy Million, Five Hundred and Sixty Four Thousand Naira (N71,470,564,000.00) representing 46.1%.
“The Budget which has an opening balance of Six Billion Naira (N6,000,000,000.00) will be funded with Recurrent and Capital Receipts of One Hundred and Sixty one Billion, Four Hundred and Ninety One Million, Nine Hundred and Seventy Four Thousand Naira (N161,491,974,000.000) with a deficit that will be financed with Internal and External Borrowings of Fifty Six Billion, Eight Hundred Million Naira (N56,800,000,000.00) leaving Four Billion, Four Hundred and Fourty Nine Million, Eight Hundred and Five Thousand Naira (N4,449,805,000.00) as Closing Balance.”
