Governor Jang Presents N228.7 Billion Budget Estimate to State AssemblyFeatured, Latest News, News Thursday, December 19th, 2013
The Plateau State Government has presented a budget estimate of Two Hundred and Twenty-Eight Billion, Seven Hundred and Forty-Two Million, Six Hundred and Two Thousand, Three Hundred and Fifty-Six Naira (N228, 742,602,356.00) to the State House of Assembly as 2014 budget proposal.
Presenting the budget to the Lawmakers in the State House of Assembly in Jos on Thursday, Governor Jonah Jang said the budget tagged: “Budget of Continuity and Inclusive Growth IV”, has an increase of N92, 100,895,568.00 billion, over the 2013 budget.
According to him, “The budget will focus on the completion of on-going projects/programmes and the consolidation of the gains made in the implementation of our Ten Point Agenda anchored on the Three Pillar Policy of this Administration.
“This is made up of Eighty One Billion, Six Hundred and Thirty-Four Million, Six Hundred and Seventy-Two Thousand, Seven Hundred and Ninety-Nine Naira (N81, 634,672,799.00) only as Recurrent Expenditure, which is 36.16% of the 2014 budget estimate.
“One Hundred and Forty-Seven Billion, One Hundred and Seven Million, Nine Hundred and Twenty-Nine Thousand, Five Hundred and Fifty-Seven Naira (N147, 107,929,557.00) only is for Capital Expenditure, which is 63.84% of the 2014 budget estimate.”
He maintained that the Re-current revenue will be funded from the state’s traditional sources of revenue which is the Internally Generated Revenue (IGR), which he said has been projected at the total sum of Sixteen Billion, Five Hundred and Twenty Million, Three Hundred and Sixty Thousand, One Hundred and Forty-One Naira (N16, 520,360,141.00).
Jang further explained that, “The sum of Forty Nine Billion, Three Hundred Billion Naira (N49, 300,000,000.00) only is expected from Statutory Revenue Allocation (SRA) and Four Billion, Eight Hundred Million Naira (N4, 800,000,000.00) only is expected for Re-imbursement from the Federal Government as well as Internal and External loans.
Reviewing the revenue performance of 2013, the Governor said, “During the year, there was appreciable increase in revenue that accrued to the State. The Internally Generated Revenue rose from a monthly average collection of Four Hundred and Fifty Million Naira (N450,000,000.00) in 2012 to about Seven Hundred and Fifty Million Naira (N750, 000,000.00) in 2013. However, we are still hoping to achieve a target of One Billion Naira (N1, 000,000,000.00) and above as monthly revenue from internal sources in the State.
“The 2013 approved budget was One Hundred and Thirty Six Billion, Six Hundred and Forty One Million, Seven hundred and Six Thousand, Seven Hundred and Eighty Eight Naira (N136, 641,706,788.00) only. Out of this, the sum of Forty Eight Billion, Six Hundred and Sixty Four Million, Seven Hundred and Seventy Four Naira (N48,664,000,774.00) was for Recurrent Expenditure, while Eighty Seven Billion, Nine Hundred and Seventy Seven Million, Seven Hundred Thousand, Five Hundred and Fourteen Naira (N87,977,700,514.00) only was for Capital Expenditure”. He added.
“May I inform the Honourable House that despite the prevailing financial constraints and the Civil Crises in most parts of the State, the 2013 budget has been faithfully implemented to an appreciable level.” He concluded.
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