In Yobe, commissioner dissects 2022 budget

The Yobe state Commissioner of Budget and Economic Planning, Mohammed Garba Gagiyo, on Thursday spoke on the proposed 2022 Budget shortly after the state 2022 budget was presented to the state House of Assembly by Governor Mai Mala Buni.

Mohammed Gagiyo said out of the proposed budget, the sum of N91, 424, 743, 000 which is 55.73 percent is earmarked for recurrent services, while N72,628,641.00 which is 44.27 percent is for capital expenditure.

Gagiyo revealed that the revenue sources to finance the 2022 proposed budget is from treasury opening balance of N3,500,000, 000, expected Internally Generated Revenue of N26,902,899,033, and Statutory Allocation of N38,643,642,465.

He noted that others are Value Added Tax (VAT) of N20.525.503.792, Excess Crude /other FAAC Revenue, N2.982.338.710, Grants N28.000.000.000, Internal Loans N23,500.000.000 and other Capital Receipt N20.000.000.000, totalling N164,054,384,000.

“The revenue projection for the 2022 was based on macroeconomic assumption of oil production benchmark of 1.88MBPD, oil price 57 per barrel, Inflation rate of 13.00 percent, exchange rate N410.15/Dollar,GDP Growth Rate of 4.20 percent, Mineral ration 30 percent and historical trend of revenue and expenditure for six years from 2015 to 2020 among others,” said the commissioner.

The Chairman Nigeria Union of Journalist (NUJ) Yobe state Council, Comrade Rajab Mohammed, assured that Journalists would do their best in following budget execution.

“We would continue to track what goverment is doing, because is part of our mandate and responsibilities,” the NUJ Chairman chairman.