By Olukayode Michael, in Damaturu
Yobe State Governor, Alhaji Ibrahim Gaidam on Tuesday presented the 2018 appropriation bill of N92.2 billion to the State House of Assembly.
The proposed budget tagged “Budget of Consolidation and Socio-economic Rejuvenation” is an increase of N9.6 billion or 10.4 percent over the total spending of N82.6 billion in 2017 Fiscal Year.
Gaidam revealed that the budget is aimed at revitalizing the educational system to return to its former glory; increase access to health facilities to the teeming population through accelerated upgrading of infrastructure, provision of basic requirements and human resource for health; promotion of agricultural activities as veritable tool for poverty alleviation, job creation and food security, among other; taking further steps towards reducing the cost of conducting government business; promotion and upgrade of infrastructural facilities like roads, water and electricity supply towards reducing rural-urban migration and accelerating our Post-Insurgency Peace and Recovery efforts.
He also said the budget is to tap the abundant solid minerals, tourism and commercial potentials and other endowments for diversifying the internal revenue generation base of the State; increase involvement of our citizens in the ownership and management of productive enterprises in the State as well as reorienting their psyche for creation of better attitude to work, trades and skills as well as increase in the supply of skilled manpower.
The works, transport and energy sector has the highest allocation of N17.5 billion with education sector allocated N7.9 billion, followed by health sector with N6 billion.
The budget has a total recurrent expenditure of N47.4 billion and total capital expenditure of N44.7 billion.
It is expected to be financed by the treasury opening balance (N4 billion), internally generated revenue (N4.5 billion), statutory allocation(N36.9 billion), Value Added Tax (N8.6 billion), ecological fund (N2 billion), stabilization fund (N150 million), excess crude oil/ exchange rate differential (N4.2 billion), grants (N4.3 billion), external loans (N490 million), internal loans (N15.4 billion), debt relief (N7.7 billion) and miscellaneous (N4 billion).