The Jigawa state Governor, Alhaji Sule Lamido, has presented the proposed sum of N77.25 billion, as budget for the 2011 fiscal year, to the state House of Assembly.
Speaking, during the presentation, the governor said the budget, which is about 7 percent higher than that of last year, agreed with the principles and requirements of the fiscal responsibility law.
He said about 5 percent of the total recurrent revenue, which amounts to N2 billion has been set aside as stabilisation fund, which makes the total appropriated funds, to be N75.25 billion.
According to him, the sum of N40.5 billion, representing about 53 percent of the total appropriation funds was proposed for recurrent expenditures, while the balance of N34.75 billion, which amounts to about 45 percent, was proposed for various capital developmental projects and programmes.
Alhaji Sule Lamido added that, compared to the total budget size, the present stabilisation fund dropped slightly less than 3 percent, as required of the fiscal responsibility law and 2011 appropriation bill.
The governor gave the breakdown of the expected accruals, from the major revenue sources to include: internal revenue of N4.67 billion, statutory allocation N30 billion, Value Added Tax N7.5 billion, Opening balance N2 billion, local government education /Gunduma salaries, N 2.240 billion, Transfer from federation, stabilisation and other accounts, N8.6 billion and other miscellaneous receipts.
Governor Sule Lamido said, the sum of N 2.471 billion was earmarked for the consolidated revenue fund charges, that included among other payments for pension and gratuity, public debt charges and recurrent expenditures of the judiciary.
He said he was optimistic that the appropriation bill would scale the legislative process in order to ensure that the end product was realistic and clearly linked to strategic policy objectives of the state.
In his acceptance speech, the Speaker of the Jigawa state House of Assembly, Alhaji Adamu Ahmed Sarawa, assured of the continued support of the legislators.
He also said the House of Assembly would give the budget an accelerated hearing and speedy passage.