Gov Lalong Presents N106.9bn Fiscal Proposal. October 24, (THEWILL) – Governor Simon Lalong of Plateau State presented the N106, 807, 267, 642.12 budget proposal for the 2022 financial year at the Plateau State House of Assembly.
Christened, ‘Budget for economic recovery and inclusive growth inclusive 2’, Lalong said the main purpose of the budget is to complete ongoing projects and create new innovations that directly affect people’s lives.
A picture of the budget statement shows that recurrent expenditure will stand at N76, 263, 701, 644.62, representing 71.4 percent of the total budget, and the inflation rate stands at N30, 543,565, 997.50, equivalent to 28.6 percent estimates.
According to Lalong, the 2022 budget shows a decrease of N40, 730, 552,208.88 compared to the total approved budget for the same period 2021.
Add to the budget, in addition, it will appear on the internal revenue of N24, 199, 475, 222. I2 at this time, and the statutory revenue from the federal accounts set at N55, 000, 000, 000.00.
Other sources, he said, include resources and grants of N982, 339, 584.00, as well as the Capital Development Fund of N3, 625, 452, 836, .00, and home loans of up to N20, 000, 000, 000.00.
Governor Lalong said at the event, “We aim to break the ground with new projects. Among them are the construction of a British-American Junction aircraft, as well as a two-way lane to the Lamingo Junction Roundabout. As such, we will develop a master plan for specific areas of the Plateau cities namely, Heipang, Mangu, and Shesham. ”
With the resumption of business operations, Lalong said his government would set up a small business development fund to promote entrepreneurship and accelerate the growth of small and medium enterprises in the province to create jobs, develop youth and fight poverty, adding that his existing legacy projects would be “completed and delivered.”
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# Gov Lalong Presents N106.9bn Fiscal Proposal