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BUSINESS & ECONOMYCOVER

Abubakar Signs 2018 Appropriation Bill into Law, Promises to Complete all on-going Projects

The Bauchi state government has signed the 2018 appropriation bill of N167.9 billion, with the promised to complete all ongoing projects in the 2018 fiscal year so as to ensure sustainable development in the state.‎

The state commissioner of Finance and Economic Development, Alhaji Garba Sarki Akuyam disclosed this Tuesday at a briefing on the 2018 appropriation bill signed into law by Governor Mohammed Abdullahi Abubakar.

He explained that with the signing of the budget, people of the state should expect execution of more developmental projects and programmes in all parts of the state.

Akuyam said that the state government will also embark on construction of rural roads across the state as well as the mechanisation of agriculture to enhance food security in the state.

The commissioner disclosed that the 2018 budget was N167,899,220,800 billion which comprises of N99,936,650,43 billion capital expenditure and N67,962,570,757 billion recurrent expenditure.

He said that out of the amount, N23.3 billion was allocated to general administration, N61.4 billion for the economic sector, and over N5b for law and justice.

According to the commissioner, the regional development sector has over N5.2 billion, social development sector N59.5 billion and consolidated revenue charges N12.7 billion.

He further disclosed that the state government has a N132,478,369 Internally Generated Revenue projection in the budget.

He therefore called on people of the state to give the administration the necessary support to achieve the set objective.

Speaking on priority areas of the budget, the commissioner said the Education will take 19 percent of the budget, Health 16 percent while Works had 15 percent and Agriculture and Natural Resources was allocated 8 percent of the budget.

According to him, the state government will diversify its revenue sources to reduce dependence on allocation from the federal government.

He commended the State House of Assembly for the quick passage of the bill and assured the determination of the executive arm towards ensuring good performance of the budget for the overall development of the state.

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