Gov Fintiri presents N486bn budget proposal to State Assembly for 2025 fiscal year

By Yagana Ali, Yola 

The governor of Adamawa State, Ahmadu Umaru Fintiri has presented a total of ₦486 billion budget proposal to the state’s House of Assembly for the 2025 fiscal year. 

The budget titled, “Budget of Service” according to the governor is aimed at funding government programs and services in the state.

The Nations News Nigeria reports that the budget is based on economic projections of 1.8 million barrels of oil per day, a $80 per barrel oil price, and a ₦1,315 to $1 exchange rate. It aligns with the state’s Medium-Term Expenditure Framework and Fiscal Strategy Paper.

The Key budget allocations include;Recurrent Expenditure: ₦137 billion (28.23%), Capital Expenditure: ₦349 billion (71.77%).

The governor, Fintiri emphasized that the revenue sources includes; Statutory Allocation: ₦53 billion (10.9%),

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VAT Share: ₦91 billion (18.7%), Independent Revenue: ₦24.6 billion (5.1%), Capital Receipts: ₦91.5 billion (18.8%).

He noted further that the expenditure breakdowns are: Personnel Cost: ₦72.8 billion (15%), Overhead Cost: ₦64.5 billion (13%) and the Capital Expenditure: ₦348.9 billion (72%).

The governor highlighted the importance of transparency and accountability in budget management and announced the implementation of e-budgeting for efficiency and cost reduction.

He also emphasized the continuation of efforts to clear the backlog of gratuity and pension payments for retired civil servants.