By Asile Emmanuel,Jos
The Plateau state government has assured residents of the state that the 2016 budget would be implemented with due diligence and ensure its fiscal discipline.
Governor Simon lalong who disclosed this while signing the budget into law also said he will apply financial intelligence in line with global best practices.
He said the 2016 Budget, tagged “Budget of Rescue and Hope” was unique and nationally in tune with the zero-based budgeting principle, whereby total revenue equals total projected expenditure.
His words: “We are determined to change and rescue situations by overcoming the handicaps of the past and exploring the prospects of a better Plateau for the benefit of our people.
“We remain committed to reducing our peoples suffering, tackling insecurity, ensuring peaceful co-existence and creating opportunities for every citizen of Plateau to live a meaningful and productive life.
“We will address critical development projects and work assiduously towards addressing the outlined interventions that will help us deliver on our 5 Policy Thrust of; Peace, Security and Good Governance; Human Capital Development and Social Welfare; Agriculture and Rural Development; Entrepreneurship and Industrialization; Physical Infrastructure and Environment
“We desire to multiply the impact of our interventions by strategically exploring and exploiting the wealth of resources and opportunities that we have in the Agriculture, Mineral Resources and Tourism Sectors.
It will recall that the budget estimate of N154,072,570,442:00 ( One Hundred and Fifty – Four Billion, Seventy-Two Million, Five Hundred and Seventy Thousand, Four Hundred and Forty Two Naira) only was presented to the House at an oil benchmark of $38 per barrel.
Lalong said after careful deliberations, and considering the current economic situation of continuous fall in revenue arising from the drop in the oil price to as low as $27 per barrel, the House considered and passed an estimate of N146,696,185,118:00 (One Hundred and Forty-Six Billion, Six Hundred and Ninety-Six Million, One Hundred and Eighty-Five Thousand, One Hundred and Eighteen Naira) made up of (N73,371,074,960:00 (Seventy Three Billion, Three Hundred and Seventy One Million, Seventy Four Thousand, Nine Hundred and Sixty Naira as Capital Vote, and a Recurrent Expenditure of N73,325,110,158:00 (Seventy Three Billion, Three Hundred and Twenty Five Million One Hundred and Ten Thousand, One Hundred and Fifty Eighty Naira.)
This shows a decrease of N7,376,385,324:00 (Seven Billion, Three Hundred and Seventy-Six Million, Three Hundred and Eighty-Five Thousand, Three Hundred and Twenty-Four Naira only) from what was presented to the House.
Lalong called for critical review of every anticipated scheme that would lead to planned investment on development projects during the financial year.
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