Borno State governor, Prof Babagana Umara Zulum, yesterday, at a town hall meeting for the 2020 revised budget and 2021 budget preparation, which was organised by the state Ministry of Finance, Budget and Economic Planning, in Maiduguri, said that the 2020 budget had been compromised by COVID-19 pandemic and crash in the crude oil price at the global market.
Zulum noted that the fallout of the economy undermined the federation account allocation, value added tax, and other sources of revenue that were equally affected by economic melt-down.
Represented by his deputy, Alhaji Umar Kadafur, Zulum said the 2020 budget projection of N146.89 billion was revised to N108 billion due to the negative effect on state’s projected revenue as a result of COVID-19 pandemic.
“The implication of this made our projects and programme suffer implementation challenges. I therefore urge the good people of Borno State to bear with this administration as we are committed and resolute in the provision of dividends of democracy, in line with our 10 point policy trust.
“ Let me inform this gathering that our aspirations in the 2020 budget were largely compromised due to the emergence of COVID-19 global pandemic, crude oil price crash, which undermined our federation account allocation, valued Added Tax and other sources of revenue equally affected by the economic melt,” Zulum said.
In his keynote address, the Borno State commissioner of Finance, Budget, and Economic Planning, Hon Adamu Alhaji Lawan, noted that the town hall meeting is a forum to give the citizens of the state the opportunity to participate in the budget process, making it the second time the government is involving the citizenry in the annual budget preparations.