Plateau State Governor, Simon Lalong, has signed the state’s 2021 Appropriation Bill worth N147.6 billion, following an adjustment to the budget size, from its proposed sum of N134.9 billion to N147.6 billion.
According to a report by the News Agency of Nigeria, the budget tagged “Budget of Economic Recovery and Consolidation of Inclusive Infrastructural Growth” allocated 61% to recurrent expenditure and 39% to capital expenditure.
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The Governor seized the opportunity to thank the members of the state House of Assembly for expediting the process, noting that their kind gesture will afford the government ample opportunity to settle down and vigorously implement it.
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What you should know
- The governor presented the proposed budget estimate to the assembly on November 11, 2020.
- The budget was later readjusted to N147.6billion and passed by the House of Assembly on December 17, 2020.
- The assented budget allocated the sum of N90.1 billion (61% of the total budget size) to recurrent expenditure, while the remaining 39% translating to N57.5 billion was allocated to capital expenditure.
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What they are saying
Commenting on the recent development, the Governor said:
- “This is a very significant event for the economic prosperity and peace of our state and I want to appreciate the speaker and the members of the House of Assembly for their commitment and diligence in passing the 2021 appropriation bill on time. This again demonstrates the unity and patriotism that is guiding the synergy between the two arms of government in delivering good governance to our people.
- “The 2021 budget complies with the current economic realities, occasioned by COVID-19, which has made us to prioritise key areas that will impact our people. We hope to support businesses that will in turn pay taxes especially now that we have signed the new tax law for development. I want to appeal to all citizens to support us as we fulfil our goal of achieving sustainable economic rebirth and empowering our people.”
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Bottom line
Nairametrics understands that the government intends to spend more on recurrent expenditure than on capital expenditure, evident by the higher allocation to the former. As stated by the Governor, this might be as a result of the COVID-19 pandemic which affected the finance of most states in Nigeria.
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