From Abel LÃ©onard, Lafia
The Nasarawa State Government has tasked accountants in various ministries and agencies to be transparent and accountable in the management of public funds, as provided for in the 2022 Sustainable Transformation Budget.
Briefing News men on Friday is the Commissioner of Finance, Budget and Planning, Mr. Daniel E. Agyeno, while breaking down and reviewing the budget presented by the state governor, Ing. Abdullahi Sule said the current administration attaches great importance to accountability and transparency in the management of public funds.
With this in mind, he said the Ministry of Finance, Budget and Planning will closely monitor the implementation of all programs and policies set out in this year’s budget.
âSo I want to ask all accountants in government ministries, departments and agencies to comply with the credit law and ensure that all income owed to the state government is properly collected and accounted for so that our set goals can be achieved. He said
In reviewing the 2021 budget, the Commissioner recalled that the Nasarawa State Government had allocated a total of N 115,722,814,543.00 (one hundred and fifteen billion seven hundred and twenty-two million eight hundred and fourteen thousand five hundred and forty-three naira) only for fiscal year 2021.
This amount was made up of a recurring expense of N 67,437,759,617.28 (sixty-seven billion four hundred and thirty-seven million seven hundred and fifty nine thousand six hundred and seventeen Naira, twenty-eight Kobo and the sum of N 48 285,054,925.73 (Forty-eight billion two hundred and eight five million, fifty-four thousand, nine hundred and twenty-five naira, seventy-three Kobo for capital expenditure respectively.
Reviewing the budget for fiscal year 2022, Mr. Egyeno said that the budget previously presented by His Excellency, Eng. Abdullahi A. Sule, is anchored on the need to consolidate and perpetuate the gains recorded over the years.
He said the parameters and budget assumption for the 2022 budget were based on the conservative oil price benchmark of US $ 57 per barrel, an estimate of daily oil production of 1.88 million barrels (including condensate 300,000 to 400,000 barrels per day, exchange rate of N410.15 per US dollar and a projected GDP growth rate of 4.2 percent and an inflation rate of 13 percent.
He further said that the political push for the 2022 budget will focus on completing some ongoing projects, improving internal revenue generation (IGR), building rural feeder roads within the State ; construction of the Karu and Lafia bus station; creating an environment conducive to public-private partnership (PPP); establishment of technological poles to expand citizen knowledge (skills acquisition centers).
He added that there would be an intensification of wealth creation and employment opportunities through the economic empowerment of young people and humans (capacity building, seed / seed capital for interns), encouraging the science education to support engineering, medical and technical needs, continued collaboration and fulfillment of obligations with development partners, and strengthen governance and institutions in line with global best practices. Agricultural liberalization with emphasis on extension services, encouraging commercial agriculture and cottage industry for the value chain.
“Exploration and exploitation of solid minerals in collaboration with the federal government, and partnering with investors as alternative sources of income generation, are increasing the number of teachers in the state.” He stated.
The finance boss also looked at the size of the 2022 budget, revealing that the total budget size for 2022 as enacted stands at 110,849,954,879.40 with anticipated revenue streams coming from the balance of opening of 2.8 billion naira, federation account, IGR internally generated income of 26.08 billion naira, aid and subsidies 17.21 billion naira and capital revenue 17.35 billion naira.
He also explained that the recurrent expenses for 2022 amount to a total of 71,770,512,458.57 N. Only are allocated to the year 2022, the personnel expenses having a total amount of 41,440,400 830.57 N while the overhead amounted to N30,330,111,628.00 respectively for 12 months in 2022, while the capital expenditure size for the 2022 budget is N39,079,442,420.92.
according to him some of the major projects and programs to be carried out during the financial year 2022 include; Economic empowerment through agriculture – 988, 194 907.20, poverty reduction. 112,500,000.00, Improved human health – 1,349,200,000.00, Improved skills and knowledge 9,712,509,853.72, Housing and urban development 13,352,500,000.00, Youth – 170,000,000.00 , Improvement of the environment 215,000,000.00, Water resources and rural development, 3,569,000,000.00 Information.
Others include; Communication and technology – 244,000,000.00, Private sector growth – 807,750,000.00, Government and governance reform – 3,362,087,660.00 Electricity – 2,414,700,000.00 Airport – 1,000,000,000, 00 COVID-19 – 594,000,000.00, Climate change, 1,018,500,000.00p
Mr. Agyeno therefore expressed the government’s appreciation for the immense contribution and support provided by all stakeholders, especially officials, members of the press and civil society organizations during the past fiscal year. .
However, it requests maximum support from the general public for the successful implementation of the 2022 budget for âSustainable Transformationâ.