Wale Akintunde -Yola
Governor Bala James Ngilari of Adamawa state has presented N100,890,000,900 Folarin budget proposal for 2015 fiscal year christened ?Budget of Consolidation and Hope?, aimed at financing capital and recurrent expenditures.
Ngillari who presented the budget at the floor of the state House of Assembly yesterday said that the budget is benchmarked on US65 dollars per barrel, 7.9 percent inflation rate and 10 percent GDP projection rate.
He explained that the sum of N57b has been earmarked as recurrent expenditure, while N42b has been set aside for capital project.
Ngillari noted that his administration would source the sum of N45 billion from statutory allocation, N15b as value added tax (VAT) and N2b as ecological funds.
He said that stringent fiscal control mechanisms were employed in the budget to ensure that all loopholes and leakages were blocked in order to ensure high performance and maximization of the budget.
The Speaker of the Adamawa State House of Assembly, Ahmadu Umaru Fintiri, who presided over the sitting said the house would take its time to scrutinize the budget page by page to expunge all loopholes before approval.
Fintiri said it would work in harmony with the executive arm to ensure that the internally-generated revenue (IGR) profile of the state was improved upon just as he urged the state government to work hard to improve the IGR of the state, so as to sustain the economy in view of the dwindling oil revenue.


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