Nasarawa state governor, Umaru Tanko Al-Makura on Thursday presented N67.013 billion proposed 2017 budget to the state House of Assembly for consideration and passage.
“The Rt. Hon. Speaker, Honourable Members, in keeping faith with the commitment of this Administration to move the State to the next level, Government is equally committed to tackling the economic recession, the 2017 Appropriation is, christened ‘Budget of Reformation’” the governor said.
The governor while presenting the budget at the state assembly in Lafia, said the budget was in compliance with International Public Sector Accounting Standard (IPSAS).
According to the governor, 55.23% of the budget is earmarked for recurrent expenditure, while 44.77% is slated for capital expenditure for the 2017 fiscal year.
He said the budget also represents a N13.9 billion or 17.18% decrease as against the 2016 budget.
“In drawing up the 2017 budget, Government is guided by the fluctuations in the Statutory Revenue Allocation (SRA) from the Federation Account which forms the major source of revenue to the State. We are also mindful of the poor performance of the IGR resulting from recession facing the entire country”
The governor said the budget would focus on completion of projects aimed at boosting welfare of citizens and stimulate the economy out of recession.