Wednesday, 21 December 2016

GOV. ORTOM PRESENTS 163 BILLION NAIRA 2017 BUDGET ''CHRISTENED BUDGET OF RURAL TRANSFORMATION''


By Tahav Agerzua
Benue State Governor, Samuel Ortom, on Tuesday 20th December 2016 presented the 2017 budget of N163.9 billion to the State House of Assembly. Making the presentation, he stated that the economic sector had the highest allocation of N88 billion followed by the social sector with N48 billion.



The budget was christened budget of rural transformation. Governor Ortom stated that the recurrent expenditure would be N66 billion or 40 percent while capital expenditure would be N93 billion representing 60 percent of the total budget.

“The focus of government in 2017 will be rural transformation as it would embark on massive construction of rural access roads,” he stated. “Our desire is that at the end of four years, every rural community in Benue State should be connected to another through planned rural roads.” Governor Ortom stated that that would be done along with rural electrification to boost economic activities within the state while government would continue to make deliberate efforts to encourage cluster settlements in order to facilitate the provision of essential services and improved security.

He said the heartbeat of his administration’s economic agenda was linked to improved agriculture adding that the sector would be made attractive to the people of the state. “With value addition through processing of agricultural produce the sector would become an attractive business,” adding that “we will embark on massive land clearing and mechanization with effective use of tractors.”

The one hundred and sixty three billion,Nine hundred and ten million,six hundred and seventeen thousand, seven hundred and forty two naira(N163,910,617 742) only 2017 budget of rural development is break down as follows;

1.Govts share of FAAC.N48,000,000,000. 2.Tax Revenue N11,108,100,000 3.Non Tax Revenue N29,878,083,688
4.Aid/Grants(Domestic/Foreign)N21,711,693,997 5.Capital Development funds Receipt N1,116,986,588 6.Domestic Borrowing N35,057,743,294
TOTAL N163,910,617,742.

Gov Ortom further said that N66,348,033,314.00 represent 40% of the total budget and capital expenditure of N97,562,584,428.00 represent 60% of total budget comprised personal cost of N43,347,415,549,.00,and over head cost of N23,000,617,765,00.

He explained that the N88.9 billion in the economic sector is consistent with our desire to stimulate the economy and create jobs.The N48.4 billion voted in the sector is aimed at cushioning the harsh effect of economic recession while Good governance,law and justice are allocated N23.1billion and N33billion respectively.

Responding the speaker Benue State House of Assembly, Hon. Terkimbi Ikyange assured the governor that the House will speedily deliberate on the budget proposals as soon as the House returns from the yuletide festival break and commended the Governor for running a govt with the fear of God and his hard stands on corruption,he charged ministries and departments to complement the hard efforts of the governor by been prudent in handling state funds at their ministries and disposals. He warned that it is not business as usual as the house is ready to perform it legislative and oversight functions.

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