Connect with us


News

Niger Govt Reduces 2020 Budget By 21.23 Percent

Niger State House of Assembly had earlier passed into law N155, 459,814,700.82, but, currently brought down to N122, 448,111, 676.00.

Published

on

The House of Assembly in Niger State has reduced its budget for 2020 by 21.23 per cent, due to the outbreak of Coronavirus in the country.

Niger State House of Assembly had earlier passed into law N155, 459,814,700.82, but, currently brought down to N122, 448,111, 676.00.

The development was revealed in the content of the Report of Committee on Planning and Appropriation on Review of Medium Term expenditure framework (MTEF) and Fiscal Strategy Paper(FSP) 2020-2022 as adopted by the State Assembly.

The Chairman and member representing Wushishi Constituency, Hon. Muhammad Lokogoma, while reading the report of the committee noted that the review of indices and other revenue projections led to the reduction in the budget size.

“In carrying out this, the Committee invited the relevant stakeholders, that is the State Planning Commission and Ministry for Finance for interface and this is the basis of this report, ”

Hon Lokogoma further stated that the budget was reduced due to the current realities in the state.

According to him, the adjustments resulted in a drop in projected Statutory Allocation from N66.79 billion to N40.53 billion, representing 39% fall in the estimated Statutory Allocation.

Other areas, Lokogoma said affected is the Internally Generated Revenue (IGR) reviewed downward from N18.69 billion in the 2020 Appropriation Bill to N14.38 billion, representing 23%.

“The decrease in IGR is due to restrictions on the movement of goods and services as a result of Coronavirus pandemic.”

The Committee chairman also disclosed that drawdowns from Development Partners which is projected at N50.26 are now N46. 57 billion adding, “it is due to restrictions on international travels and close down of partner’s offices.”

Lokogoma, however, revealed that sources not affected by the review include Dividend from North-South Power, payment National Electricity Liability Company, NELCO, as well as Refund from Federal Roads, PFAs and Family Home Program.

is an Associate at Naija News. He is a news media enthusiast, he holds a degree in psychology and loves exploring and sharing about the enormous power that lies in the human mind. Email: [email protected], Instagram: adeniyidman