By Balogun Alabi
The Yobe State Government has submitted N92.1 billion budget to the state house of assembly as 2018 expenditure, the budget which focus more on promoting irrigation, fishery and livestock farming for job creation and poverty reduction in the state.
Analysing the budget, it was learnt that the sum of N47.4 billion equaling 51.5 per cent would be for recurrent expenditure while, N44.7 billion representing 48.5 per cent is for capital projects.
While presenting the budget to the house of assembly on Tuesday, thestate governor, Ibrahim Gaidam said that the budget was 10 per cent higher than 2017 budget which was N82.5 billion.
According to him, the 2018 budget titled “Budget of consolidation and socio-economic rejuvenation’’ would focus on revitalisation of education, provision of accessible and affordable healthcare services, agricultural and infrastructural development.
On how the budget would be financed, the governor hinted that the budget would be financed with treasury opening balance of N4 billion, Internally Generated Revenue (IGR) of N4.497 billion, statutory allocation N36,8 billion, Value Added Tax N8.5 billion and Ecological fund N2 billion.
Gaidam who said that other sources of financing the budget would be excess crude N4 billion, Internal loan N15.3 billion and External loan of N490 million, among others, added that his government had achieved 82 per cent success on its implementation of its 2017 budget.