Laleye Dipo in Minna
The Niger State Government is to spend over N238.924 billion on its capital and recurrent expenditure in the 2023 financial year.
The amount is higher than the 2022 Budget estimate of N225.1billion, with about 2.96 percent.
The 2023 Budget, is made up of N91, 044,745,351.31 or 38.11 percent recurrent expenditure while N147,879,712,431.16 or 61.89 percent is proposed for capital expenditure.
The state Governor, Sani Bello, who presented the budget proposal before the state House of Assembly yesterday disclosed that the proposed budget is expected to be financed by the Statutory Allocation (N61,094,737,097.00 representing 25.57 percent); Value Added Tax (VAT) (N35,616,260,802.00 or 14.90 percent); Internally Generated Revenue (IGR) (N22,519,483,986.00 or 9.43 percent); Excess Crude/Other Revenue (N4,257,726,144 or 1.78 percent), and Capital Receipts (N115,436,249,753.47 or 48.30).
Tagged the budget of ‘Consolidation and Transition’, Governor Bello emphasised the need to look inward to grow the state economy, and therefore, reiterated the need for the review of the states Internally Generated Revenue (IGR), and that attention would be given to infrastructural development to attract private sector investment to enhance earnings.
In this regard, he said the economic sector has the highest estimate of N98,786,069,351.92 or 66.80 percent of the capital expenditure. The social sector is earmarked for N38,442,105,896.73 (26.00 percent), administrative sector was allocated N9,326,537,182.51 or 6.30 percent while the law and justice sector gets N1,325,000,000.00 representing 0.90 percent.
Bello stated that the administration would continue to support farmers and boost agricultural production in view of the sector’s obvious, strategic importance as the major occupation of the state teeming population and the backbone of its economy.
According to him, “We will intensify efforts to complete the Bobi Grazing Reserves and revamp others. As a potential source of revenue, the state government will continue to solicit the support of appropriate federal government agencies and private investors to develop its tourism potential.
“We will also encourage solid minerals development in order to diversify the state economy.”
He added that the state government would in the 2023 fiscal year, prioritise the completion of the numerous road projects that have attained 80-90 percent completion level as well as conclude those already initiated, while directing contractors to return to their respective sites immediately.
In his remarks, the Speaker of the House of Assembly, Abdullahi Bawa Wuse, commended the executive arm for the presentation of the 2023 Budget estimate, and assured the state of the commitment of the legislature to ensure quick passage of the appropriation bill.
The Speaker also promised to collectively work with the executive and relevant agencies to improve on the Internally Generated Revenue of the state for the betterment of all.
