October 24, (THEWILL) – Governor Simon Lalong of Plateau State has submitted a budget proposal of N106, 807, 267, 642.12 for the fiscal year 2022 to the Plateau State House of Assembly.
Christened, ‘Budget of economic recovery and consolidation of inclusive infrastructural growth 2’, Lalong said the main objective of the budget is to complete ongoing projects and execute new ones that have direct bearing on the lives of the people.
The picture of the appropriation statement indicates that recurrent expenditure will stand at N76, 263, 701, 644.62, representing 71.4 per cent of the entire fiscal package, while capital estimate stand at N30, 543,565, 997.50, equivalent to 28.6 per cent of the total estimates.
According to Lalong, the 2022 budget shows a drop of N40, 730, 552,208.88 when compared to the total approved budget for the corresponding period 2021.
Funding the budget, he added, will be from internally generated revenue estimated at N24, 199, 475, 222. I2 during the period, and statutory earnings from the federation accounts put at N55, 000, 000, 000.00 only.
Other sources , he noted, include aids and grants of N982, 339, 584.00, and Capital Development Fund of N3, 625, 452, 836,.00, and domestic loans summing up to N20, 000, 000, 000.00.
Governor Lalong said on the occasion, “We intend to break the grounds with new projects. Among them is the construction of the British-American Junction flyover, and a dual carriage way to Lamingo Junction Roundabout. Similarly, we shall carry out the design of a master plan for some select urban areas in Plateau state namely, Heipang, Mangu, and Shendam.”
On further activating the business environment, Lalong said his government would establish a micro-finance development fund to propel entrepreneurship and accelerate the growth of micro and small scale industries in the state for job creation, youth empowerment and poverty alleviation, adding that his legacy projects that were already ongoing would be “completed and delivered as envisaged.”
