The Gombe State government has made a N116 billion proposal in its Appropriation Bill for the year 2021.
This was made known to newsmen on Tuesday by the state Commissioner for Finance, Muhammad Magaji, after an executive council meeting, presided by Governor Inuwa Yahaya, at the Government House, adding that N168 million is budgeted for statutory office holders in the state.
Magaji said, “All the people from all walks of life contributed, trade unions, youth, women groups, and various associations attended the stakeholders’ engagement. Part of this culminated in the document we submitted to the exco for consideration and it has been approved.
“The 2021 proposed budget has a size of N116 billion, out of which N58 billion is for capital expenditure and N57 billion for recurrent expenditure, 49 per cent recurrent expenditure, 51 per cent capital expenditure.”
Revealing that the 2021 budget is 7.5 per cent higher than the revised 2020 budget, Magaji stressed that the medium-term framework and a physical strategy paper have been submitted to the House of Assembly.
He added, “The revised COVID-19 budget stood at N107 billion. The budget deficit for 2021 is N5 billion, 4 per cent of the budget size. We will be financing the budget through internal and external borrowings, external borrowing is at 3 per cent, while our internal borrowing will be at N4 billion, total borrowing is about N7 billion for 2021 budget.”