Benue State Governor present 2011 Budget

Gabriel Suswan, Benue State governor.

Gabriel Suswan, Benue State governor.

The Benue State Governor, Mr Gabriel Suswam has presented a budget estimate of sixty-nine billion, eighty three million, five hundred and twenty six thousand, five hundred and thirty naira (N69, 083,526.530) to the State house of assembly for the 2011 fiscal year.

Gabriel Suswan, Benue State governor.

Suswam who presented the budget last  Thursday, revealed  that the proposed capital expenditure is N28, 642, 498, 350 representing 42% of the total proposed estimates  while recurrent expenditure is pegged at N20, 655, 600, 890 and N19,785,427,290,representing 30% and 28% respectively of the entire bugdet .

Christened the ‘Budget of Continuity and Reformation’, the Governor disclosed that it is expected to enhance the completion and commissioning of several infrastructural projects across the State.

Suswam said the 2011 budget is expected to realize a total of twenty eight billion, five hundred million naira (N28, 500, 000, 000) as revenue from statutory allocation whereas a total estimate of six billion and four hundred million naira (N6, 400,000, 000) will be realized as receipts from VAT and seven billion, eight hundred and twelve million, six hundred and three thousand, two hundred and forty naira (N7, 812, 603, 240.00) will come in form of capital receipts.

He said government is also intends to generate internal revenue of about N7, 486, 143, 490.00 in 2011 fiscal year.

Other sources of revenue in the State according to the Governor include: 13 billion from 14% fixed rate Development Bond as well as the expected loan receipts of N5, 884, 679, 800. 00.

Suswam decried that the 2010 budget performed only 29%, blaming on harsh economic crunch.

The Speaker of the State House of Assembly, Hon. Terseer Tsumba promised that members will look at the budget critically and give it an accelerated passage .

Ubong George – Makurdi

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