Adamawa govt. cuts 2020 budget by 24%

Adamawa govt. cuts 2020 budget by 24%

Tuesday, May 19, 2020 9:24 pm

Governor Ahmed Fintiri of Adamawa State

Adamawa State Executive Council has approved a downward review of the 2020 budget by 24 per cent, affecting only the capital expenditure and overhead costs.

The Commissioner for Information and Strategy, Dr Umar Pella, disclosed this shortly after an Extraordinary meeting of the council presided over by Gov. Ahmadu Fintiri in Yola on Tuesday.

The decision was reached after the council considered and approved a review of the 2020 Medium Term Expenditure Framework and Fiscal Strategy Paper in line with the extant laws of the Fiscal Responsibility Commission 2018.

The News Agency of Nigeria (NAN) reports that the state House of Assembly in December 2019, approved the 2020 proposed budget estimate of N183.3 billion presented by the governor.

Pella explained that the measure was taken by the council after a holistic review of the situation and considered the crisis affecting the economy as a result of COVID-19 pandemic.

He added that government had deemed it necessary to review the budget to meet up with the physical realities.

He said that the budget review would soon be transmitted to the state assembly for consideration and approval.

In his remark, the Commissioner for Finance, Mr Ishaya Dabari, said the review did not affect personnel costs and was based on the benchmark used by the Federal Government.

Dabari was optimistic that the review of the budget would be realised.

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