By Yakubu Busari,Jos
Performing the ceremony, Governor Lalong said the signing of the budget is in accordance with section 121 sub section (1) of the 1999 Constitution of the Federal Republic of Nigeria.
Former governor Jonah Jang had on the 23rd December, 2014 presented to the House of Assembly an estimate of the budget but was not passed into law until the arrival of the 8th Assembly in the state.
According to Lalong, the 2015 budget in the state, is made up of One Hundred and Twenty-two Billion, Nine Hundred and Seventy-one Million, Four Hundred and Ninety-nine Thousand, Five Hundred and Nine-six Naira (N122, 971,499,596.00) only as current expenditure.
While Recurrent Expenditure remains at Ninety-two Billion, Four Hundred and Ninety-four Million, Three Hundred and Thirty-five Thousand, Eight Hundred and Twenty-two Naira (N92, 494,335,822.00) only.
He said the House had deliberated on the budget and passed a total size of Two Hundred and Fifteen Billion, Four Hundred and Fifty-seven Million, Six Hundred and Eighteen Thousand, Two Hundred and Four Naira Seventy Two Kobo (N215, 457,618,204.72) only for the service of the year.
“This shows a drop of Eight Million, Two Hundred and Seventeen Thousand, Two Hundred and Thirteen Naira Twenty eight kobo (N8, 217,213.28) only.
Of this amount, One Hundred and Nineteen Billion, Eight Hundred and Twenty Million, Three Hundred and Sixty One Thousand, One Hundred and Forty Eight Naira, One Kobo (N119, 820,361,148.01) only is for Capital Expenditure and Ninety Five Billion, Six Hundred and Thirty Seven Million, Two Hundred and Fifty Seven Thousand, Fifty Six Naira, Seventy One Kobo (N95, 637,257,056.71) only is for Recurrent Expenditure”.
According to him, “the Budget is to be funded from Internal and External Revenue Sources amounting to One Hundred and Eleven Billion, Five Hundred and Thirteen Million, Six Hundred and Forty Four Thousand, One Hundred and Ninety Two Naira (N111, 513,644,192.00) only.
This shows that the budget has a deficit figure of One Hundred and Three Billion, Nine Hundred and Forty Three Million, Nine Hundred and Seventy Four Thousand, Twelve Naira, Seventy Two Kobo (N103, 943,974,012.72) only. To be financed from Internal Loans and Government bonds”.
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