The commissioner for Budget and Economic Planning in Taraba State Hon. Solomon Elisha have said Governor Darius Dickson Ishaku will complete all the ongoing projects in the state. The commissioner made this remark when presenting to the general public a budget of 149 billion that was signed into law by the governor two weeks ago.
The budget which was prepared using the IPSAS standard is in accordance with five basic parameters which includes a national inflation rate of 13%, national GDP of 4.2%, oil production benchmark of 1.88 million barrel-per-day, oil price benchmark of $57 per barrel and an exchange rate of 410.15 naira.
In his remark, the commissioner said the revenue sources include statutory allocation which is estimated to be 33%, income from value-added 12% and independent internally generated revenue IGR of 6.66 percent while AIDS and grants is expected to be 12.20 2%, loans of 21.5% and other capital receipts and federal government support of about 12.6% of the budget.
The commissioner emphasized the need for ministries, departments and agencies of government in the state to pay close attention to revenue generation as contained in the governor’s budget presentation speech. Some of the remark made by the governor which were re emphasize by the commissioner includes; the need for revenue collection to remain a top most priority and rigorous collection and account for it, he said all ministries, departments and agencies must grow their revenue as emphasize by the governor.
The commissioner said that the state government particularly in this year’s budget will be focusing on areas of economic importance that will improve the well-being of its citizen and this states why 55.98% of the budget amounting to about 40 billion is towards boasting economic activites in the states. Another area which will take about 31.4% of the budget amounting to about 22 billion is the social sector. Governance and administrative will take six billion naira in the budget and law and justice which is about 3.7% of the budget.