Adamawa State Governor, Rt. Hon. Ahmadu Umaru Fintiri Friday presented appropriation bill of over N175b for 2023 fiscal year to the State House of Assembly for consideration.
Tagged “Budget of Consolidation” the estimation has over N105b representing 60% as recurrent expenditure and over N70b representing 40% as capital expenditure.
The 2023 budget which is higher than that of last year was formulated inline with the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper as a matter of Economic Planning Policy.
Presenting the budget on the floor of the House of Assembly, Governor Umaru Fintiri said in the next fiscal year, the government will ensure all ongoing projects started by this administration are completed.
He noted that the budget was projected on assumptions of oil price benchmark of 70 US dollars per barrel, daily oil production estimate of 1.6 million barrel and exchange rate of ₦435.52 to dolar.
The Governor highlights key projects in the capital expenditure of the next year’s budget to include construction of a Super Highway from FGGC Yola to Yola-Town through Yolde-Pate.
He said there will also be establishment and construction of three Mega secondary schools, one in each of the senatorial districts which will serve as Special schools for the most talented of Adamawa students.
Fintiri added that the government will also establish High-tech Vocational Training Centers to serve as Information technology skill incubation hub for the development of the teeming Youths in the state.
The Governor disclosed that the government in the next financial year will also use internal loans to finance some of the priority projects that have high revenue yielding potentials in Adamawa.
He said his administration will offset the backlog of Gratuity and Pensions of retired Civil Servants within the next fiscal year and to ensure prompt payment of Personnel Cost and release of Overhead cost.
Responding, the Speaker Adamawa State House of Assembly, Alh Aminu Iya Abbas pledged that the appropriation bill will soon be passed into law for the benefit of the state.
