By Barnabas Augustine
The Adamawa State Executive Council has during its tenth meeting for the year 2021 approved over one hundred and sixty three billion naira proposed budget estimate for the fiscal year 2022.
The meeting which was presided over by Governor Ahmadu Umaru Fintiri on Wednesday at the Council Chambers, Government House Yola, approved the proposed budget and tagged it "Budget for Sustainable Hope".
Briefing Newsmen after the meeting, the Honourable Commissioner, Ministry of Finance and Budget, Dr Ishaya John said after their deliberation, the Adamawa State Executive Council has approved the total sum of one hundred sixty three billion, six hundred and twenty nine million, nine hundred and ten thousand, forty naira (N163,620,910, 040) for the year 2022 proposed budget.
The Hon. Commissioner revealed that out of the proposed budget, 60% amounting to ninety eight billion, eight hundred and eighty five million, two hundred and forty three thousand, forty naira (N98,855,243040) was estimated to take care of recurrent expenditure; which include personnel and overhead costs. He said the capital component takes 40% which is sixty four billion naira, seven hundred and seventy four million, six hundred and sixty seven thousand naira (N64,774,667,000).
According to Dr John, in the 2022 estimated budget, Governor Ahmadu Umaru Fintiri led administration will focused on youth empowerment to enhance their skills and knowledge.
The Commissioner explained that the budget estimate has increased above that of 2021 due to the strategy put in place to enhance the state revenue base; adding that the budget has enlarged from one hundred and forty billion naira to one hundred and sixty billion naira.
Dr John revealed that the State Government has embarked on serious measures to exploit all avenue to augment the state income.
The Finance and Budget Commissioner stated that the current year has serious budget performance setback because of the impact of COVID-19, saying that the pandemic has affected the economy at the national and state levels.
He said that the proposed budget is realistic while expressing hope the economy will improve.