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The Taraba State House of Assembly on Tuesday passed the State 2020 budget estimate of N215.6bn into law.
Taraba Governor, Darius Ishaku had on December 19, 2019 presented a budget estimate of N213.6bn to the House for consideration and passage. But the House during, its budget consideration jacked up the budget up by N2bn, bringing the budget to N215.6bn.
Speaking to journalists after the passage, the Speaker Hon. Joseph Albasu-Kunini commended members for the timely passage of the budget.
According to him, the increase of N2bn in the budget was based the new Value Added Tax (VAT) from 5 to 7.5 percent. Kunini said the N2bn was allocated to new ministries created by the State government after the budget estimate was presented to the House.
He explained that the passage of the bill before the January 31st was good for the development of the State as it meet the deadline of the world bank for their services to Taraba State.
Our correspondent reports that the budget has over N71.5bn representing 33.5 percent as recurrent expenditure and over N142.6bn representing 66.5 percent as capital expenditure
