AdamawaGovernor, Ahmadu Umaru Fintiri has signed into law the 2024 Appropriation Bill as passed by State House of Assembly.
The N225.893 billion budget proposal, tagged “Budget of Reengineering” had earlier received accelerated legislative process and passed by the Adamawa State House of Assembly.
Governor Umaru Fintiri in his brief remarks by signing the budget commended the State House of Assembly for the speedy passage of the budget within the appropriate time.
Fintiri said, he was overwhelmed by the commitment of the Members of the State Assembly and assured them of his Administration’s desire to maintain the cordial relationship that exists between the executive and legislative arms of the government.
He assured that government will implement the budget holistically with all sense of dedication, transparency and discipline, so that the state will continue to reap more democracy dividends.
Governor Fintiri said his administration has laid solid foundation in the last four years and will continue to improve on it in this 2nd tenure.
His administration has earmarked the sum of 1billion Naira for every local government area in the budget to improve infrastructural development in each of the 21 local Government Councils.
Shedding more light on 2024 budget Appropriation, the State Commissioner of Budget and Economic Planning, Mr Emmanuel Pridimso, in an interview, said the signed budget will bring an unprecedented developments to the state, as according him the estimate alligns with the 8-point agenda of the present administration.
Tagged ‘Budget of Reengineering’, the signed estimate has N111.3bn representing 49.3% as recurrent services while N114.5bn naira representing 50.7% is to cover the capital expenditure.
The budget which is higher with over N214.2bn more than the 2023,it is articulated on the current economic indicators of Oil Production Bench Mark; 1.78 million Barrels Per Day, oil Price Bench Mark; $77.96/barrel, Exchange Rate; N750/$, National Real GDP Growth Rate; 3.75% and National Inflation Rate; 21.5%.
Governor Umaru Fintiri who presented the budget on the floor of the State House of Assembly early this month said the estimate was in line with the 2024- 2026 Medium-term Expenditure Framework and Fiscal Strategy Paper (MTEF and FSP).
Speaker Wesley Bathiya, members of the legislature and commissioners witnessed the signing. ceremony of the budget.
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