From Timothy Olanrewaju, Maiduguri
Borno State plans to launch a remittal platform for its Treasury Single Account (TSA) in March to block leakages in its revenue receipts.
Commissioner for Finance and Economic Planning, Adamu Lawan disclosed at a press briefing in Maiduguri on Friday.
“Our remittal platform will be launched in March. By this, all payments and revenue collected by MDAs will be paid directly into Treasury Single Account. This is to block all leakages in our revenue collection” he explained.
He disposed that the revenue projection particularly the Internally Generated Revenue (IGR) for the 2021 budget was estimated at N16.6 billion out of the total recurrent revenue of N83.3 billion.
Aside the estimated IGR, he said government projected to get fund from statutory monthly allocation from the federation account, grants and loans and other supports.
He said the approved 2021 budget size of N248 3 billion was targeted to strengthen Security, boost agriculture and food production, discouragew dependence on food aids, reconstruct public infrastructure including roads, hospitals and water. He said the budget will also address impacts of COVID-19 on the people of the state.
The commissioner explained that the 2021 budget tagged People’s Buflget of Recovery and Reconstruction, was about N140 billion nighter than the 2020 budget.
He warned heads and finance directors of government ministries, departments abd agencies against spending outside budgetary allocations. He said such acts was a violation of government procedures and could put an impeachable offence on the neck of the state government.
He said the ministry of finance would withold release of other fund no any ministry, department and agency that continue to indulge in such financial violations. He urged the people to continue to be law abiding by paying their taxes and duties promptly to ensure the government deliver on its promises.