Governor Ahmadu Fintiri has presented a N225.8 billion budget proposal for the 2024 fiscal year to the Adamawa State House of Assembly.
Tabling the Appropriation Bill before the Assembly on Friday, Fintiri said that the ‘Budget of Reengineering’, has provision for N111.3 billion, representing 49.3 per cent, for recurrent services while N114.5 billion, representing 50.7 per cent, is to cover capital expenditure.
The budget, a little higher than the N214.2 billion for 2023, is meant to consolidate on past achievements of the government, Fintiri told the state lawmakers.
Speaking before laying the budget proposal on the table on the floor of the House of Assembly, Fintiri explained that the proposal is predicated on Statutory Allocation of N68.047 billion, share of VAT N47.7 billion, exchange rate difference N16 billion, non-oil revenue N6.6 billion, as well as internally generated tevenue, N22.2 billion, among others.
Fintiri told the legislators that to ensure enhanced financing of the budget, his cabinet will continue to ensure that some of the state’s untapped sources of internally generated revenue are harnessed and properly tapped.
Responding to the governor’s presentation, Speaker of the State Assembly, Bathiya Wesley said the lawmakers would ensure early passage of the Appropriation Bill.
Fintiri presents N225.8bn 2024 ‘Budget of re-engineering’ to Adamawa Assembly
