Governor Aminu Tambuwal of Sokoto State has granted an executive assent to the State’s 2021 budget worth N176.7 billion to be passed into law.
According to News Agency of Nigeria sources, the budget document tagged: “The budget of consolidation and socio-economic emancipation,” allocated 54% of its proposed sum for capital expenditure, translating to N95.5 billion; while the remaining 46% (N81.2 billion) was set aside for recurrent expenditure.
In addition, the Governor praised the State House of Assembly for expediting the passage of the budget, noting that the lawmakers set their political differences aside to facilitate the quick passage of the budget, which is to the benefit of the state.
What you should know
Nairametrics reported that Sokoto House of Assembly had earlier approved a virement request made by the Governor to the tune of N538 million. On the other hand, the build-up to the 2021 budget for the state and other relevant information are succinctly captured below;
- Governor Tambuwal, on 10 December 2020, presented a budget proposal of N176, 685,535,633.47 to the State Assembly. Thirteen days later, the budget draft was signed into law by the Governor.
- Nairametrics gathered that the budget was signed into law without any addition or subtraction.
- The breakdown of the budget by sectoral allocation shows that the top three sectors with the highest allocation are; Education with a lion share of 21.9% ( translating to N38,784,571,035.78), followed by Agriculture with 17.1% (N17,905,299,159.00), and Health with allocation of 11.8% (N20,770,716,027.29).
- The breakdown of the N81.2 billion allocated for recurrent expenditure are; personnel cost of N36.2 billion, overhead cost of N30 billion, interest payment on debt of N9.1 billion, pension, gratuity and public debt service of N4.2 billion and internal debt service of N1.6 billion.