Gov Sule signs 2020 revised budget of N62.97bn into law

TRACKING___NASARAWA Governor Abdullahi Sule Tuesday signed the 2020 revised budget of N62. 97bn into law saying the revision was necessitated by the effect of COVID-19 pandemic.

It would be recalled that the state government had budgeted N108,444,805,614.00bn for 2020 fiscal year.

Speaking while signing the revised budget in government House, Governor Sule said the budget was reduced from the initial N108 to N62.97bn representing 41.94 per cent.

According to Sule, N 36,502,715,764bn is for recurrent expenditure and N26,465,632,374.00 for capital expenditure adding that the reviewed down to N62,968,348, 138.00 is to cater for the aftermath of COVID-19 pandemic.

“The total recurrent budget decreased by 37.78 per cent, that is, from N58,670,129,609 to N36,502,715,764 only stating further that the original capital budget was N49,774,676,004 but reduced to N26,465,632,374 in the revised budget”.

The deficit of N2.505bn is expected to be financed through internal and external borrowing, saying, ” Our administration has developed a comprehensive blueprint, Nasarawa COVID-19 Economic Response for responding to the challenges of the pandemic.

He gave an assurance that the state government would work harder to trickle down development to the citizenry adding that the present economic reality calls for all hands to be on deck to secure the socio-economic status of the state.

“We in Nasarawa State like our counterparts across the federation is facing economic stress as a result of the COVID-19 pandemic”, the Governor declared.