Nasarawa State Government has said it will construct an airport and ensure the completion of ongoing projects initiated by the present administration and the ones abandoned by the past administration in the state.
The state governor, Umaru Tanko Al-makura, stated this yesterday while presenting? next year’s budget, tagged ‘Budget of Redemption’, at the floor of the state House of Assembly.
The governor disclosed that the state government would spend over N97 billion out of which? N42.3billion is for recurrent expenditure, and N55.2billion for capital spending.
According to the breakdown of the budget, education carries the lion share with N14 billion, followed by works and transport, N12.4billion, while the health sector got N5.5billion, and the legislature, N3.2billion .
The 2012 budget, which surpasses the previous year’s budget with over N16 billion, is aimed on transforming the state.
The governor said government was guided by the economic realities and the federal government oil benchmark of $70 dollars per barrel of oil and the exchange rate of N155 to the dollar.
On how the monies will be generated to fund the budget, Al-makura said it would be funded from consolidated revenue capital funds, statutory revenue allocation, excess crude oil receipts, value added tax (VAT), grants and loans, internally generated revenue (IGR) and miscellaneous receipts.