The Nasarawa State Commissioner for Finance, Budget and Planning, Munira Abdulahi, has said that the Governor Abdullahi Sule-led administration attaches great importance to accountability and transparency in the management of public resources.
The Commissioner made this known during the 2024 budget analysis at a press briefing on Friday in Lafia.
The finance commissioner said the budget is to be funded through revenue sources to include Internally Generated Revenue, Federation Accounts, Aids and Grants, Opening Balance and Capital Receipts among others.
Abdullahi explained that the social sector takes over 42 percent of the budget followed by economic, administration, law and justice sectors respectively, noting that the basic macroeconomic assumptions for the 2024 budget are presumed on conservative oil price benchmark of 77.96 US Dollars per barrel, daily oil production estimate of 1.78 million barrels, exchange rate of 750 Naira per US Dollar and projected GDP growth rate of 3.76 percent as well as 21.40 percent inflation rate.
She expressed the state government’s appreciation to all stakeholders towards the realization of the goals of the previous fiscal year, appealing for the sustenance the support and cooperation given.
The commissioner called on accounting officers of ministries, departments and agencies in the state to be guided by appropriation law and ensure that all revenues due to the state government are properly collected and accounted for.
Last year, Governor Sule presented before the Nasarawa State House of Assembly the 2024 appropriation bill of N199.8bn tagged “Budget of Renewed Commitment”.
The governor said the budget was anchored on containing critical economic and development issues in the state, adding that if passed into law by the House, it would bring about multi-sectoral development in the interest of the people of the state.
According to the governor, “I am delighted to lay before you a total budget size of N199, 879, 370,709.43 for the 2024 fiscal year.
“Recurrent Expenditure -A total of N112, 925,350,954.18 representing 56 % of the total budget is earmarked for Recurrent Expenditure.
“Capital Expenditure -The sum of N86, 954,019,755.50 representing 44% of the total budget is set aside as Capital Expenditure for the year 2024″; part of the budget speech read.
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