Minna-Niger State Commissioner of Finance, Alhaji Ibrahim Balarabe has declared that the state government might not be able to implement the proposed budget of the year up to 50% due to the dwindling economy in the country.
Governor Abubakar Bello of Niger State
To make the situation more glommy is the inability to meet up with the Internally Generated Revenue targeted for each month so far which he said might affect the entire expected income for the year.
The Commissioner who painted a gloomy picture of the state of economy on the floor of the state’s House of Assembly yesterday disclosed that out of the N3billion expected to be generated monthly, only N2.42 billion has so far been generated for six moths which is January to June 2016.
He also told the House that the state had received N16.712 billion as statutory allocation from the federal government while it has N424.6 million in the Treasury Single Account (TSA) mop-up fund till date.
The Commissioner further revealed that the state had also received bail-out funds in three trenches which include N4.36 billion, N2.5 billion and N10 billion for infrastructure development this year.
“There is no doubt that the budget implementation is in low ebb but I can still assure you that the state government will still implement more than 50 per cent of the budget before the year because there is hope that the IGR of the state will improve in the next five months.
“We are doing everything possible to improve on the Internally Generated Revenue in the state but there are lots of challenges. This is why the federal government has been giving bail-out funds because the implementation of the budget may be below 50 per cent implemented if there is no support. But there is hope that the IGR will get a boost in the next few months.”
Speaker of the House, Alhaji Ahmed Marafa who spoke after contribution from members referred further deliberation on the state of the finance to the House Committe on Finance and Appropriation.
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