N21.7bn Supplementary Budget Approved
The state Commissioner of Finance, Babangida Umar Gantsa, while addressing journalists after the approval said the state deems it necessary to seek the supplementary budget to finance some critical projects included in the 2021 budget.
He said the supplementary budget is for the state to achieve its desired goals in ensuring that all key socio-economic development projects and programs are fully funded and completed by the beginning of the 2023 fiscal year without having bequeathed unnecessary huge contractual commitments and liabilities.
The Commissioner added that the 2021 budget was proposed on 11.9% inflation rate and now it is 17.9%, while $40 per barrel of crude now sold at $69.
“In a simple term, the cost of the project has increased and also the expected consolidated revenue has increased so it is indispensable to have supplementary for the full implementation of 2021 state appropriation bill,” he said.
The Chairman House Committee on Constituency project Haruna Aliyu Danyatin said, the executive submitted N18.99 billion as proposed supplementary budget but the House increased it to N21.7 billion.
He added that the supplementary budget approved by the House will be used to fund projects in Education, Health, Electrification, and Roads projects as contained in the letter sent to the house by the executive