The Plateau State Government announced a target of N24.1 billion in Internally Generated Revenue (IGR) for its 2022 Fiscal year, as it approved the budget proposal of N106.8 billion for onward presentation to the State House of Assembly for passage as 2022 appropriation bill.
This was disclosed by Mr Sylvester Wallangko, Commissioner for Budget and Economic Planning, at a news briefing at the end of the state executive council meeting, on Wednesday at the Government House, Jos.
The Commissioner added that the State executive council also proposed to receive N75 billion from the Federation Account Allocation Committee (FAAC) in the same fiscal year to enable it to finance its projects.
What they said
Mr Wallangko revealed that the council approved the budget proposal of N106.8 billion for onward presentation to the Plateau House of Assembly for passage as the 2022 appropriation bill.
Capital expenditure being proposed on infrastructure is N30.5 billion, adding that there is a N40 billion reduction from the 2021 budget of N147.4 Billion. The Commissioner added that the proposal would ensure that projects proposed by Ministries, Departments and Agencies (MDAs) were realistic and implemented within the stipulated period, and also revealed the state government would not borrow money to fund its projects in 2022.
“For 2022, whatever comes in as inflow would go out as outflow; so no room for borrowing from any bank to finance the projects that are earmarked by the different MDAs,” he said.
The Commissioner for Information and Communication, Mr Dan Manjang, added that the Central Bank of Nigeria (CBN’s) Anchor Borrowers Scheme would launch a 700 hectares programme for wheat production in the state.
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Nairametrics reported earlier that the Kaduna State Government revealed its proposals for a N233 billion budget for 2022, targeting Value Added Taxes of N24.9 billion and an internally generated revenue of N67.26 billion.
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They added that the budget will have a capital expenditure of N146 billion and recurrent spending of N87.6 billion.