Governor Samuel Ortom of Benue state Wednesday presented a budget of N132.59 billion to the state House of Assembly for the 2021 fiscal year.
Tagged: “Budget Of Resilience”, the 2021 budget estimate presents an increase of N23,769,358,129 or 18% from the revised year 2020 revenue estimates.
“Based on the 2021 budget estimates, recurrent expenditure stands at N90,810,951,749 only, representing 68% of the total budget.
“The capital expenditure budget has the sum of N41,781,089,561 only, representing 31% of the total budget.”
The governor noted that the state government’s share of Federation Account Allocation Committee (FAAC) revenue is expected to be the leading revenue source with an estimated figure of N58, 758,672,157 only.
“This is followed by independent revenue of N19, 761,611,452 only.
“Other receipts are estimated at N30, 261,757,702 only, while domestic bonds, loans and deficit financing are a combined estimate of N23, 810,000,000 only,” he added.
Governor Ortom further noted that in preparing the 2021 budget estimates, focus was made on programmes and projects that will further strengthen the resilience and recovery of the people in the face of manifold challenges.
“We need to recover as quickly as possible from the disruptive impact of the economic downturn and the COVID-19 pandemic in order to keep our state on the path to becoming an economically self-reliant federating unit of Nigeria.
“For that, we need to focus on measures that will enhance our economic recovery and growth,” he stated.