By Olanrewaju Lawal, Birnin Kebbi
Kebbi State Governor Abubakar Atiku Bagudu has proposed N141.6 billion as the state’s budget for 2021 before the House of Assembly for consideration.
Bagudu, presenting the proposed budget on Wednesday, projected the recurrent expenditure of N49.5 billion and capital of N92.1 billion.
The Governor, who tagged the budget, “Budget of Economic rejuvenation”, said the total budget will include grants and programme backed funds of development partners amounting to about over N18.1 billion.
‘Based on the benchmarked oil price of $40 per barrel, there is a projected 30% increase on statutory allocation over the 2020 revised budget. Inflation Rate was put at N11.95 and exchange rate at N379 per dollar.
‘IGR is marginally projected to increase compared to the revised 2020 budget to N12.11 billion. Projected VAT increases from N12.07 billion in 2020 to N16.56 billion in 2021.
‘Grants up from N15.9 billion in the 2020 revised budget to 25.1 billion because of expected SFTAS (7billion), ATASP, National Urban water supply and host of others. Our Miscellaneous Revenue projections have reduced from N9.9 billion in the revised 2020 budget to N5.5 billion in the proposed 2021,’ the Governor stated in his presentation.
The Governor added that the 2021 budget has prioritised certain sectors as the engine of growth and drivers of the State’s economy stressed that major allocations of the budget would go for provision of quality education, ICT Development, Youth and Social Development.
In his remark, the Speaker of the House, Alhaji Samaila Abdulmumeen Kamba, thanked the Governor for presenting the budget promptly and promised to pass the budget before January 2021.