By Barnabas Augustine
Governor Ahmadu Umaru Fintiri is set to present proposed budget of N225.8 billion to Adamawa State House of Assembly for debate and consideration.
This was the deliberation made by the State Executive Council meeting, Wednesday, presided by Governor Ahmadu Umaru Fintiri at the Council Chambers, Government House Yola.
Briefing Government House Yola Correspondents shortly after the weekly meeting of the State EXCO, the Commissioner Ministry of Information and Strategy, Hon. Neido Geoffrey Kofolto disclosed that the Council deliberated and approved to present the state proposed budget tagged "Budget of Reengineering by the Fresh Air 2.0 Government".
Hon. Kofolto disclosed that proposed budget is precisely based on the citizens" need that the government discovered. She stated that the Adamawa State 2024 proposed budget is estimated at two hundred and fifty five billion, eight hundred and ninety three million, six hundred and ninety thousand, six hundred and twenty six naira (N225,893,690,626).
Adding that Governor Ahmadu Umaru Fintiri will present the budget to the State House of Assembly on Friday.
Contributing, the Commissioner Ministry of Budget and Planning, Hon. Emmanuel Pirindinso said that, of the total proposed budget, one hundred and eleven billion, three hundred and seventy nine million, five hundred and eighty six thousand, one hundred and twenty six naira (N111,379,586,126) representing 49.3% is budgeted and air marked for recurrent services.
While one hundred and fourteen billion, five hundred and fourteen million, one hundred and four thousand, five hundred naira (N114,514,104,500) representing 59.7% was for capital expenditure.
According to Hon. Pirindinso, the proposed state budget was based on oil benchmark of 1.78 million barrel per day, oil price benchmark of 77.96 barrel per day and naira to dollar exchange rate is N750 per $1.
He stated that the proposed budget is also based on the national GDP growth rate of 3 75% and the present inflation rate of 21 5%.