By Salisu K Ismail
Jigawa state government has explained the reasons behind the state supplementary budget amounting to 21.7 billion recently approved by the State House of Assembly.
Speaking to Journalists in Dutse, the state Commissioner of Finance, Hon. Babangida Umar Gantsa said, the state deems it necessary to seek the supplementary budget to finance some critical projects contained in the 2021 budget.
"The supplementary budget is for the state to achieve its desire goals in ensuring that all key socio-economic development projects and programs are fully funded and completed by beginning of 2023 fiscal year without having bequeath unnecessary huge contractual commitments and liabilities," he said.
The commissioner added that, the 2021 budget was proposed on 11.9% inflation rate and now it is 17.9%, while $40 per barrel of crude now sold at to $69.
“Based on a review of revenue flows during the first half of the year and other fiscal information, it has been projected that more income would accrue into the state consolidated revenue fund than earlier projected.
“In a simple term, the cost of project has increased and also the expected consolidated revenue has increased, so it is indispensable to have supplementary for the full implementation of 2021 state appropriation bill.”
While shading light, the Chairman House Committee on Constituency Project, Hon. Haruna Aliyu Dangyatin said, the executive submitted N18.99 billion as proposed supplementary budget but the House increase it to N21.7 billion.
“We increased the supplementary budget from the initial proposal sent by executive to ensure adequate funding for constituency projects”
He said, the supplementary budget approved by the house will be used to fund projects in Education, Health, Electrification and Roads projects as contained in the letter sent to the house by the executive.
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