31 January 2013

Nigeria: Gombe Assembly Passes 2013 Budget

Gombe — The Gombe State House of Assembly has approved N108 billion for the 2013 fiscal year, reflecting an increase of N320 million over the initial proposal presented to it by the governor. This followed the adoption of recommendations contained in the report of House Committee on Appropriation by its chairman Muhammad Dan'azumi Adamu.

Adamu said his committee increased the budget by jerking up the state Internally Generated Revenue target by N20 million and adding N300 million to Value added Tax which he said had performed more than 100 percent last year. He said N66 billion representing 61 percent of the budget is for capital expenditure while recurrent expenditure is to gulf N44 billion representing 39% of the budget. He further explained that the budget will be principally funded through Recurrent Revenue of 50, 415, 914,000 and capital receipt of N59, 798,980,914.

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