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HomeWorld NewsNigeria NewsNigeria news : Buni presents over N106.9 billion as 2021 budget estimate

Nigeria news : Buni presents over N106.9 billion as 2021 budget estimate

nigeria news buni presents over n106 9 billion as 2021 budget estimate

Yobe State Government has planned to expand the sum of N106, 998, 499, 776 billion for the 2021 fiscal year.

Governor Mai Mala Buni disclosed this on Thursday while presenting the 2021 proposed budget before the State House of Assembly.

Tagged, “Budget of Recovery, Consolidation and Economic Rejuvenation”, Buni said the 2021 budget estimate is being proposed against the background of achievements made in the 2020 fiscal year.

He noted that the 2021 budget will concentrate on completion of all ongoing projects, thereby creating enabling environment for youth empowerment, accelerate restoration of peace and improvement of livelihood for the entire citizenry.

“For these reasons, we have decided to tag the 2021 budget as a Budget of Recovery, Consolidation and Economic Rejuvenation.

“We, therefore, plan to expend the total sum of N106, 998, 499, 776 billion for the execution of our various projects and programs.

“Out of the amount the sum of N53, 184, 171, 776 billion or 59.5% has been earmarked for recurrent expenditure while the sum of N43, 814, 398, 000 billion or 40.95% to finance capital expenditure”, Buni stated.

According to the governor, the proposed 2021 budget estimate increased with N20, 949, 388, 672 billion or 17.2% over that of the 2020 budget.

While explaining the budget’s key allocations to Ministries, Departments and Agencies,(MDAs) before the House, Buni said Ministry of Works which has the lion share will gulp the sum of N77.8 billion, Transport and Energy N3.5 billion, Housing and Property Development N8 billion, Health N2.1 billion, Basic and Secondary Education N3.6 billion and N4.1 billion is allocated to Agriculture.

Others are Ministry of Commerce, Trade, Industry and Tourism is to have N4.5 billion, Office of the Secretary to the State Government is allocated N4.8 billion, Rural Electrification N1.5 billion while House of Assembly is earmarked N2.2 billion respectively.

“Sectoral allocations contained in the 2021 budget are as follow: Administration N12.4 billion, Economy N23.5 billion, Land and Justice N1.7 billion and Social N25.4 billion” he disclosed.

Gov. Buni, however, while giving a highlight of the 2020 budget said the actual budget size was over N108.3 billion, but due to the outbreak of COVID-19 pandemic which negatively affected the global economy, it was reviewed to over N86.49 billion.

“The overall performance of the 2020 budget for both recurrent and capital expenditures was over N69.4 billion or 59.11% success.”, he said.

Buni commended the Assembly for working harmoniously with the executive arm, leading to the numerous achievements in the outgoing fiscal year.

Earlier, the Speaker Yobe State House of Assembly, Ahmed Lawan Mirwa assured the governor of a speedy passage of the proposed 2021 budget.

The 2021 budget estimate is expected to be financed through the projected federal allocations, internally generated revenue as well as other sources.

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