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Published On: Wed, Dec 6th, 2017

Gaidam presents N92.18bn 2018 budget to Yobe assembly

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From Uche Uche, Damaturu.

Yobe state Governor, Alh. (Dr.) Ibrahim Gaidam has presented the state’s 2018 Fiscal Appropriation Bill of N92.18 billion for consideration and approval, before the state House of Assembly at the Assembly’s chamber in Damaturu the state capital.
The budget tagged, “Budget of consolidation and socio-economic re-juvenation” shows there is an increase in the 2018 budget over that of 2017, in that, while the sum of N69.39billion with a supplementary budget of N13.18 billion, bringing the up to the sum of N82.57 billion, was earmarked in 2017, the government has budgeted to spend the sum of N92.18 billion which represents an increase) of N9.62 billion or approximately 10.4%, above last year sum of N69.39 billion.
Speaking while presenting the budget at the chambers of the state House of Assembly yesterday, the governor pointed out that, out of the total budget, the sum of N44.73 billion or 48.5%would be used to finance the capital expenditure while the sum of N47.45 billion or 51.5% would be devoted to recurrent expenditure.
The revenue to fund the budget would come, as the governor stated, from sources such as statutory allocation estimated at the sum N36.87 billion, value added tax N8.58 billion, excess crude oil and exchange rate differential expected at the sum of N 4.2billion, among other sources.
While reviewing the 2017 budget, the governor stated that out of the N82.57 billion estimated for the year, the total revenue actually received from all the sources covering the period of January 2017 to 30th November,2017 was N67.49 billion which is about 82% of what was targeted for the year 2017.

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