Niger State House of Assembly has passed into law N230.3 billion Supplementary budget for 2023 fiscal year.
The passage of the supplementary budget is coming within two months away from the end of the fiscal year and represents over 90 percent increase in the initial budget of N245 billion passed into law by the previous house.
The analysis showed that the budget represents recurrent expenditure of N19.08 billion and capital is N211.2 billion.
The passage of the supplementary budget is sequel to the consideration and adoption of the report of the House Standing Committee on Planning and Appropriation on the Supplementary Appropriation Bill of the state as presented by the House Committee chairman on Planning and Appropriation, Hon Zubairu Isma’ila.
The chairman of the committee disclosed that the Supplementary Budget was necessitated by the expected additional inflow of N187 Billion from United Bank for Africa (UBA), Federal Government Infrastructural Grant of N42 billion and NCNI Serie 3 Bond of N1.3 billion bringing the total to N230.3 billion to enable the government fund critical projects that will stimulate growth and development of the state economy.
He said the content of the report was based on the input from stakeholders that included the officials from Niger State Planning Commission and Ministry of Finance.
He said the supplementary budget affected personnel, overhead costs and the capital expenditures, maintaining that all the capital projects are viable.
The report of the committee after presentation at the Plenary, was considered clause by clause and unanimously adopted in accordance with the recommendations.
In his remarks the speaker of the House, Hon Abdulmalik Muhammad Sarkin Daji, commended the House Committee on Planning and Appropriation for its diligence, hard work and commitment to ensure the smooth passage of the 2023 supplementary budget of the state.
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