Tuesday, January 8, 2019 3:42 pm
Gov. Ibrahim Gaidam of Yobe on Tuesday signed the state 2019 N91.64 billion Appropriation Bill passed by the House of Assembly into law.
Gaidam, who signed the budget in Damaturu, said, “the budget intends to consolidate on the varied and far reaching gains recorded by our administration.”
He assured that his administration would complete all ongoing projects before handing over to the next administration on May 29.
According to him, the budget size remain the same as presented to the assembly with minor adjustment in capital and recurrent expenditures.
Gaidam said the state recorded 74.4 per cent performance in the 2018 budget with an opening balance of N13. 11 billion in the new year.
He commended the assembly for the speedy passage of the budget, saying this underscores the cordial relationship and commitment of both arms of government to the development of the state.
Alhaji Zanna Machina, the Speaker, said the assembly reduced the capital expenditure from N41.67 billion to N41.37 billion while, the recurrent expenditure was increased from N49.99 billion to N50.26 billion, according to the News Agency of Nigeria, NAN.
Similarly, the assembly reduced the projected internal loan from N3.63 billion to N2.13 billion while miscellaneous expenditure was also reduced from N2.51 billion to N1.01 billion.(