Politics
Gov Simon Lalong of Plateau, on Wednesday signed N153. 5 billion 2019 Appropriation Bill into law.
Lalong said that he would use his second term to leave a lasting legacy in Plateau, shortly after signing the budget.
“We will leave a legacy that all of us till our retirement will enjoy, but if we do not enjoy it, our children will enjoy it.
“This is the purpose and mission for Plateau in my second tenure as I will not be contesting for another term that would distract me.
“We have already drawn the Roadmap and we need all, if you play your roles, to actualise the target,” he said.
The governor stated that the task of moving Plateau forward was everybody’s business and not just that of the governor.
He commended the assembly members who worked diligently to ensure passage of the budget
“Peace is my priority, if we get it right we have capable hands that will move the state forward,’’ Lalong declared.
Mr Silvester Wallangko, Commissioner for Budget and Economic Planning said that N85.5 billion representing 55.67 per cent was for recurrent expenditure.
Wallangko stated N68 billion representing 44.33 per cent was for capital expenditure.
The commissioner explained that the budget was prepared based on the present macro-economic variables from the medium term framework and medium term sector strategy.
He added that the appropriation, tagged “Budget of Rescue and Infrastructural Growth’’, was prepared to address critical socio-economic and Infrastructural deficit.
According to him, the budget will be financed from Internally Generated Revenue (IGR) statutory revenue allocation and reimbursements, as well as capital receipts.
“We expected N18.4 billion from IGR, N61.7 billion from statutory revenue allocation and reimbursements, and N69.4 billion from capital receipts,” he explained.
The commissioner said that budget was in deficit of N40.7 billion and could be referred to as a deficit budget.
He added that the deficit would be financed from loans, as well as internal and external sources as the need arose. (NAN)
– Apr. 3, 2019 @ 06:10 GMT |
Tags: Lalong signs N153.5bn 2019 budget into law
