Fintiri presented the budget on Tuesday on the floor of the state House of Assembly in Yola, the state capital.
Adamawa State governor, Ahmadu Fintiri, has presented a N183,36BN proposed appropriation for the 2020 fiscal year, promising to achieve 90 per cent performance.
Fintiri presented the budget on Tuesday on the floor of the state House of Assembly in Yola, the state capital.
He said, “The budget is articulated on the current National Economic indicators of $55 per barrel, 10.36 per cent inflation rate, N359 per $1 exchange rate and 3.16 per cent GDP.
“To make sure the 2020 budget is fully executed, we streamlined it to make it much reasonable and departed from the past where you have the bogus budget of N244bn and then achieved only 35 per cent.
“We feel this budget would serve the desire of the people of the state better and to fully achieve 90 per cent implementation.”
Governor Fintiri said the sum of N85.935bn representing 47 per cent of the total budget was earmarked for recurrent expenditure, adding that the balance of N97.424bn representing 53 per cent, was for capital development programmes.
Fintiri said that the estimated revenue for the 2020 fiscal year comprises the federal allocation of N42.63bn, VAT N18.10bn, excess crude oil N2bn and refund from Paris Club N7.02bn.