Benue State Government has proposed to spend the sum of Seventy Two Billion, Eight Hundred and ninety Three Million, Five Hundred and Ten Thousand, Six Hundred and Ninety Two Naira Only (N72,893,510,692.00) on the economic sector of the state in the 2016 fiscal year.
Commissioner for Finance in the state, David Olofu while giving the breakdown of the 2016 Budget at a press conference at the NUJ House in Makurdi, the Benue State capital said the intendment of the budget is for the “Enhancement of service delivery, realization of economic and social aspirations of the teeming populace of Benue State who massively voted Governor Samuel Ortom to power.”
Following to economic sector in allocation is the social sector with koan allocated amount of Fifty Billion, Four Hundred and Eighty Two Million, Nine Hundred and Three Thousand, Three Hundred and Sixty Naira Only (N50,482,903,360.00) representing 33 per cent of the total 2016 Budget.
According to Olofu, government has proposed to spend the sum of Eighty Four Billion, One Hundred and Forty Eight Million, Eight Hundred and Seventy Seven Thousand, Eight Hundred and Fifty Two Naira Only (N84,148,877,852.00) on capital projects and Sixty Six Billion, Five Hundred and Ninety Three Million, Nine Hundred and Ninety Six Thousand, Four Hundred and Seventy Naira Only (N66,593,996,470.00) on recurrent representing a paradigm shift on emphasis on recurrent expenditure.
The ministry of with the highest allocation is Works, Transport and Energy with Twenty Billion, Eight Hundred and Sixty Nine Million, Eight Hundred and Sixty Nine Thousand, Three Hundred and Sixty Eight Naira Only (N20,865,869,368.00), apparently due to ongoing construction works in the state, followed by Rural Development and Cooperatives with Twelve Billion, Eight Hundred and Thirty One Million, Four Hundred and Seventy Nine Thousand, Four Hundred and ninety Four Naira Only (N12,831,479,494.00).
Agriculture is fourth with an estimated allocation of Five Billion, lFour Hundred and Three Million Niara Only (N5,403,000,000.00).
Governor Samuel Ortomm said “The implementation of the 2016 budget will be shaped by the trust our people have in this government and our trust in God; the confidence we have in ourselves to deliver quality services for our people and our credibility as leaders to do the right thing at all times in the interest of the people of the state.”
It would be recalled that on 31st December, 2015, Governor Ortom presented a proposal of One Hundred and Thirty Three Billion, Three Hundred and Ninety Four Million, Ninety Two Thousand, Six Hundred and Ten Naira Only (N133,394,092,610.00)as proposed earnings and expenditure for the 2016 Fiscal year.
However, the Benue State House of Assembly approved the sum of One Hundred and Fifty Billion, Seven Hundred and Forty Two Million, Eight Hundred and Seventy Four Thousand, Fifty Naira Only (N150,742,874,052.00) as budget estimates for 2016 fiscal year.
On 16th May, 2016, Governor Ortom signed the approvals into law and it is christened Budget of trust, confidence and credibility.
Economy tops Benue State Govt Planned Expenditure in 2016 Reviewed by Link Naija on 10:51:00 Rating: