Governor Ahmadu Fintiri of Adamawa has presented a proposed budget of N183,36 billion for the 2020 fiscal year the state House of Assembly.
Fintiri while making the presentation, on Tuesday, in Yola, said that the estimates was majorly to finance Recurrent and Capital development programmes.
“The budget is articulated on the current National Economic indicators of 55 dollars per Barrel, 10.36 per cent inflation rate, N359 per one dollar exchange rate and 3.16 per cent Gross Domestic Product,’’ Fintiri said.
Explaining further, the governor noted that out of the total proposed budget estimate, the sum of N85.935 billion, which represents 47 per cent of the total budget had been earmarked for recurrent services of the state.
He noted that the balance of N97.424 billion which equally represents 53 per cent was for capital development programmes.
Fintiri said that the total proposed revenue comprised the statutory allocation of N42.63 billion, VAT N18.10 billion, Excess crude oil two billion naira as well as Paris club refund of N7.02 billion.
Others he said include support fund from the Federal Government’s N4 billion, Internally Generated Revenue N12.83 billion, capital receipts N94.42 billion, and the balance of N17.72 billion to come from other miscellaneous sources from the Federal Government.
On the performance of the 2019 budget of about N244 billion, he said it was not how much government got that mattered, but how best the available resources were utilised.
“To make sure the 2020 budget is fully executed, we streamlined it to make it much reasonable and a departure from the past where you have the bogus budget of N244 billion and then achieved only 35 per cent.
“We have brought down the budget to N183.36 billion which we feel would serve the desire of the people of the state better and to fully achieve 90 per cent implementation,’’ Fintiri said.
He said that education, health and human capital, agriculture, water supply and rural infrastructure and community development would be given top priority.
Others he said were civil services, pension and gratuity among others.
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