Governor Abdullahi Sule of Nasarawa State has signed into law the 2024 supplementary budget totalling N150,310,075,773.14, attributing the feat to the improvement in revenue following the removal of oil subsidy.
Governor Sule signed the document at a ceremony which held at the Government House on Wednesday.
While showing appreciation to President Bola Ahmed Tinubu for the decision to remove the oil subsidy, the Governor said the signing into law of the 2024 supplementary budget is a practical demonstration of the positive results from the subsidy removal.
He pointed out the 2024 supplementary budget was necessitated by the realization of improvement accruing to the state, fueled by the determination of his administration to judiciously utilize the resources.
“Our original budget was 104bn but then we had to come up with a supplementary budget of almost 100 percent when we jumped to over 156bn. This is the highest budget ever in the history of Nasarawa State. As a matter of fact, this is almost a budget of three years in Nasarawa State in the past,” he said.
Governor Sule emphasized that most of the revenue is coming as a result of the removal of oil subsidy.
“I want to at this moment, show great appreciation to President Bola Ahmed Tinubu, GCFR, which I have mentioned over and over. Now we are seeing it practically. Most of this improved revenue is coming as a result of the removal of subsidy and for the fact that whatever was removed was released to the various states at a time to see this improvement,” he stated.
He said the most significant aspect of the 2024 supplementary budget was that only N8bn was set aside for personnel cost with N119bn earmarked for capital projects.
“That is why today, in every local government area of the state, you have one form of capital project that is taking place or the other. In so many local government areas you have multiple capital projects taking place at the same time,” he said.
Governor Sule used the opportunity of the event to appreciate the Speaker, Nasarawa State House of Assembly, Rt. Hon. Danladi Jatau, members of the assembly for the speedy passage of the supplementary budget bill, in time to meet with the requirements of the law.
He equally thanked the State Ministry of Finance, Budget and Planning, as well as all other various ministries for working hard towards the passage and signing into law of the supplementary budget.
Presenting the 2024 supplementary budget bill before Governor Sule, Rt. Hon. Speaker Danladi Jatau commended the synergy existing between the legislature and executive arms of government.
He assured that the assembly would continue to support the Governor towards the growth and development of Nasarawa State.
“We are here to present the bill for you to assent for the good governance of the state. Thank you for what you have been doing. We will continue to do our best to support the government of Nasarawa State. We will continue to work together for the progress of Nasarawa State,” he states.
Earlier, State Commissioner for Finance, Budget and Planning, Hon. Munirat Abdullahi, said the dynamic realities of governance in the country and emerging opportunities within Nasarawa State, necessitated for adjustments in order to align the administration’s fiscal policies with evolving priorities.
With the supplementary appropriation bill now approved, the Nasarawa State Government’s 2024 budget totals N356.5 billion.
