Gombe Assembly passes 2022 appropriation bill into law
Gombe Assembly passes 2022 appropriation bill into law
By Matthew ELOYI
The Gombe State House of Assembly has passed into law the 2022 Appropriation Bill worth N154.94 billion as against the N154.61 billion proposed by the state Governor, Muhammadu Inuwa Yahaya.
This was contained in a statement by Abubakar Umar, the Gombe State House of Assembly Information Officer on Tuesday.
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The statement noted that the Chairman, House Committee on Appropriation, Aliyu Baba-Manu said the budget estimate was derived from Gombe State Development Plan (DEVAGOM) 2021-2030, Medium Term Expenditure Framework (MTEF), Fiscal Strategy Paper (FSP) and Budget Policy Statement (BSP) 2022-2024 with Macroeconomic assumptions of Oil production of 1.8 Million Barrels Per Day at $57 per barrel, exchange rate of N410.15 to a US Dollar and Mineral Ratio of 31% taking cognizance of the expected Inflation Rate of 13.50% among others.
The passed bill reflects an increase of N353.35 million as against the initially proposed bill. As recommended by the appropriation committee, the House approved the size and the sectorial allocations of the 2022 budget as well as all the virements made in 2021.
The estimate had a capital expenditure of 83.49 billion representing 53.9 percent and a recurrent expenditure of N71.47 billion which represent 46.1 percent. The economic sector had the highest allocation of 57.19 billion representing 68.6 percent.
The bill has an opening balance of N6 Billion said to be funded with recurrent and capital receipt of N161.49 billion with a deficit that would be financed with Internal and External Borrowings of N56.80 billion leaving N4.44 billion as Closing Balance.
The economic sector is followed by the social sector with a N19.31 billion representing 23 per cent.the Administrative, Law and Justice Sectors had N4.37 billion representing 5.2 per cent and N2.60 billion representing 3.1 percent respectively.
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The Speaker of the house, Abubakar Mohammed while speaking after the passage of the bill, commended the appropriation committee for presenting an articulate report that guided the decision of the house.
He also commended Governor Yahaya for proposing a people oriented budget with a capital to recurrent expenditure ratio of 53.9 percent to 44.1 percent and putting macroeconomic indices into consideration.
