By Allmedia24 | November 5, 2024
Nasarawa State Governor, Abdullahi Sule, recently submitted a Supplementary Appropriation Bill totaling N156.6 billion to the State House of Assembly. This budget amendment aims to further support critical projects and programs that enhance the state’s infrastructure and fulfill Governor Sule’s commitment to delivering on his developmental agenda for Nasarawa.
This request comes as the initial 2024 budget, approved at N199.8 billion in December 2023, has been met with new financial needs arising from increased revenue inflow and shifts in the state’s strategic goals.
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Speaker Highlights Purpose of Supplementary Budget
During the assembly proceedings in Lafia, Speaker Danladi Jatau emphasized that the budget’s approval would empower the government to address critical needs. “This bill will provide essential dividends of democracy, enabling the state to address pressing projects for the people,” he stated.
According to Jatau, the proposed bill, titled “A Bill for a Law to Issue Out of the Consolidated Revenue Fund of the State,” marks a key step in aligning Nasarawa’s fiscal policy with its evolving economic landscape.
New Financial Provisions and Project Expansion
Governor Sule’s proposal is an amendment to Nasarawa’s 2024 “Budget of Renewed Commitment,” initially approved to facilitate ongoing and new projects directly impacting residents’ lives. The governor’s letter, addressed to the State Assembly, outlined how the supplementary funds would cover unexpected costs tied to priority projects, new infrastructure initiatives, and community-centered programs.
Governor Sule explained that the additional funds were essential to the state’s growing project needs:
“Due to the urgency of these projects and programs, budgetary provisions must be adjusted to accommodate challenges from shifts in macroeconomic variables within the country,” Sule noted.
This statement highlights the state’s commitment to recalibrating budget allocations to reflect the latest financial and operational requirements, with an eye toward completing critical infrastructure within the year.
A Strategic Response to Economic Changes
The proposed supplementary budget reflects a responsive approach to recent positive changes in Nasarawa’s economic landscape. With the inflow from the Federation Accounts and capital receipts such as the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) program, the state has witnessed steady revenue growth in the past three quarters of the fiscal year. These funds have allowed the government to envision further projects and respond to immediate development needs across the state.
The proposed budget will increase Nasarawa’s 2024 total expenditure to N356.5 billion, a substantial investment in the state’s growth trajectory.
Breaking Down the Budget Expansion
The new budgetary allocation of N156.6 billion will be used to support various initiatives aimed at improving Nasarawa’s infrastructure, social services, and community development programs. In line with this, the government has pledged to streamline financial records and align its policies with projects that have a direct, measurable impact on residents’ welfare.
Speaker Jatau and House Majority Leader Suleiman Azara moved quickly to initiate the legislative review process, with the bill scaling its first reading. If passed, the amendment will serve as a financial tool for Nasarawa’s goal to elevate the standard of living across its communities.
Nasarawa’s Financial Path Ahead
Governor Sule’s budget proposal underscores the administration’s objective to build a resilient economy that supports sustainable development across sectors. The House is expected to review and finalize decisions on the bill in upcoming sessions, a move that could reshape Nasarawa’s fiscal landscape for the rest of the fiscal year.
To stay updated, visit Punch’s report on the supplementary budget proposal and its anticipated impact on Nasarawa’s development agenda
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