By Hussaini Hammangabdo Yola
Gov Ahmadu Umaru Fintiri, has presented a budget of N140,034,404,440 for the 2021 fiscal year approparation, before Adamawa state House of Assembly for approval.
Presenting the budget Monday in Yola tagged, budget of ‘stabilization’ Fintiri said, the budget is made up recurrent expenditure of N67,216,516,530 billion representing 48%of the total budget, while balance of N72,817,892,910.00 billion for it capital development representing 52%of the budget.
Fintiri said, government would consider plans to access long term finance from the capital market by floating bonds to finance some viable projects in the budget.
He added that the board of internal revenue has been revamped, which improves collections despite the impact of COVID-19 pandemic.
He added that all revenue title in the state were codified and align to the standard of international best practice of public sector accounting .
“This has further aid the revenue agency block leakages as non performing revenues are Investigated.
“The board has successfully implemented the statutory rate of feed and levies applicable by law to livestock revenue collection”.
The recurrent expenditure he added had made appreciable progress in minimizing expenditure by coating down overhead coast of all MDAs by 40% as a result of fall in cash inflow caused by COVID-19 Pandemic.
He said government is committed to according education top priority through free education, payment of WEAC and NECO fees and improvement in feeding and scholarship, while additting that the budget has been revised from N180bn to N140bn as a result of the incursion of the COVID-19 pandemic.
He noted that from January to September 2020, the state has received a total of N87,314,384987 which it uses for both personnel cost and capital projects.
Speaker Aminu IYa Abbas promised to approved the budget before the me of the year to facilitate develoment of infrastructure in the state.