By; TINA PHINEAS, Yola
Governor Ahmadu Umaru Fintiri of Adamawa State has presented a budget of N140 billion before the State House of Assembly as the 2021 Appropriation Bill.
Presenting the bill on the floor of the house on Monday, Fintiri said the budget will consolidate the socio economic developments he has started in the state.
According to him, the proposed budget of N140 billion for 2021 fiscal year is made of recurrent expenditure of N67.2 billion representing 48% of the total budget while the balance of N72.8billion is for capital development projects representing 52% of the budget.
Fintiri noted that in other to release funds for capital development, his government will reduce the cost of running the government by 40 percent.
The governor said his administration is also considering plans to access long term finance from the capital market by floating bonds to finance some viable projects in the budget.
Fintiri added that the completion of the ongoing projects is aim at reducing the stock of uncompleted projects in 2021 which is in line with the principles of his administration and the aspirations of the people of the state.
He disclosed that his administration has revamped the state board of internal revenue and have noticed appreciable improvement in the monthly revenue collections despite the impact of the COVID19 pandemic.
He said his administration will prioritised Youth and women empowerment including education in 2021.
Speaking on the 2020 budget, the governor said the budget has been revised from N180bn to N140bn as a result of the incursion of the COVID-19 pandemic into the state.
He noted that from January to September 2020, the state has received a total of N87,314,384987 which it uses for both personnel cost and capital projects.