(NAN)
The Sokoto State House of Assembly on Tuesday passed the state Medium Term Expenditure Frame Work for 2022 to 2024.
The News Agency of Nigeria (NAN) reports that the passage followed a motion by Alhaji Bello Ambarura, the All Progressive Congress (APC) leader of the assembly.
He urged the members to consider the expenditure frame work at the level of the Committee of the Whole House.
Speaking at the plenary, the Chairman, House Committee on Finance and Appropriation, Alhaji Malami Basakkwace (PDP- Sokoto South II), said the frame work provided macro economic projections.
“These include an analysis to guide aggregate revenue and expenditure for the years under reference for ease of implementation.
“Accordingly, the expenditure framework projections and fiscal strategy had set out all revenue and expenditure projections for each year.
“This will guide for effective implementation based on defined objectives and developmental priorities,” he said.
The Deputy Speaker, Alhaji Abubakar Magaji, who presided over the plenary put the resolution into a voice vote and was unanimously adopted by the lawmakers.
NAN reports that the medium term expenditure frame indicated a total expenditure, including contingency reserve amounting to N143.7 billion, N154.7 billion and N158.5 billion for 2022, 2023 and 2024, respectively.
These include a total recurrent revenue amounting to N95.3 billion, N105.3 billion and N115.9 billion and personnel costs amounting to N35.1 billion, N36.8 billion and N38.7, while the capital expenditure gets N75.7 billion, N79.9 billion and N 79.5 billion for the years respectively.
Indicated also are transfer to capital account N30.2 billion, N34.7 billion and N41.1 billion, financing loans N27.9 billion, N28.4 billion and N29 billion and public debt service N20.4 billion, N23.7 billion and N25.3 billion for the years.
Others are capital receipts N20.5 billion N21 billion and N13.6 billion overheads N7.3 billion, N7.9 billion and N8.7 billion, planning reserves N3.9 billion, N4.2 billion and N4.2 billion and social contribution and social benefit N2.1 billion for each of the years, respectively.