Financial News|

The Sokoto State House of Assembly on Tuesday passed the 2021 Appropriation Bill of N176.7 billion for Gov Aminu Tambuwal’s assent.
This followed the adoption of the report of House Committee on Finance and Appropriations at the plenary sitting of the state Assembly.

Gov Tambuwal had on Dec 10 presented the 2021 budget proposal of N176.7 billion before the state House of Assembly. Tagged “Budget of Consolidation and Socio-Economic Emancipation,’’ the bill on Tuesday, Dec. 15, passed through the second reading at the Assembly.

Presenting the report, Chair of the Committee, Malami Basakkwace (PDP-Sokoto South II), explained that the committee did not add or subtract from the figures presented by the Governor. “However, based on genuine request by sub-committees, the committee moved resources inwards to accommodate some important demands and interest of our people,” he said.

Mr Basakkwace said that 54 per cent of the budget would go for capital expenditure while recurrent spending stood at 46 per cent of the total proposal. He said the budget includes a capital expenditure of N95.5 billion, personnel cost of N36.2 billion, overhead cost of N30 billion, interest payment on debt N9.1 billion, pension and gratuity and public debt service N4.2 billion and internal debt service N1.6 billion.

Mr Bello Ambarura, APC Leader of the Assembly, thereafter moved the motion for the adoption of the report and it was unanimously adopted by the lawmakers. In another development, the Assembly approved the request of the Sokoto State Acting Governor, Manir Dan’iya, for capital and recurrent Virement warrant in the 2020 budget amounting to N994 million.

This followed the adoption of the recommendation of the report of the House Committee of whole as presented by the Deputy Speaker who presided over the Assembly sitting.

(NAN)

Source: https://www.premiumtimesng.com/regional/nwest/432663-sokoto-assembly-passes-2021-appropriation-bill-of-n176-7-billion.html

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