By; TINA PHINEAS, Yola
Governor Ahmadu Umaru Fintiri of Adamawa State has presented N225.8 billion Appropriation Bill to the state House of Assembly for 2024 fiscal year.
Presenting the budget tagged: “Budget of Re-engineering”, Fintiri said it would focus on the development of critical infrastructure in the state.
He said the estimate includes N114.5 billion capital expenditure representing 51 per cent and N111.3 recurrent expenditure representing 49.5 per cent.
The governor said the budget would be financed from N68.3 billion statutory allocation; N22.2 billion Internally Generated Revenue (IGR), N16 billion exchange rate difference, N1 billion ecological fund, N47.7 billion Value Added Tax (VAT), among others.
Finitiri said the budget would provide necessary funds to fast track infrastructure development in critical sectors such as education, security, health and social services.
The Speaker, Mr Wesley Bahtaya said the legislators would ensure speedy passage of the bill.
New Nigerian reports that the budget is higher than N175 billion approved for 2023.