The Kaduna State Government on Thursday, July 1, 2021, promised a realistic budget for year 2022 in line with the 2022–2024 Medium Term Expenditure Framework, MTEF, Budget estimate.
Thomas Gyang, the commissioner, Planning and Budget Commission, PBC, gave the assurance in Kaduna during a meeting with relevant stakeholders to make inputs into the MTEF document.
The News Agency of Nigeria, NAN, recalls that some Civil Society Organisations, CSOs, in Kaduna State had on Wednesday, advised the state government against unrealistic budgeting for 2022.
The CSOs observed that the state’s budgets had always been higher than the MTEF recommendation since 2016, making the budgets unrealistic, except in 2019 when it was closer to the MTEF recommendations.
Gyang, who was represented by the Permanent Secretary, Mrs Phoebe Yayi, explained that the MTEF recommended a budget size of N197.6 billion for 2022.
He said that the projected capital expenditure was N115.5 billion and a recurrent expenditure of N82.1 billion, with a total recurrent revenue of N140.5 billion and capital receipt of N26.5 billion.
He said that the expected statutory allocation was N54.2 billion; VAT, N25.2 billion and Internally Generated Revenue, IGR, N61.1 billion.
He said that the budget estimate was based on the microeconomic assumptions of 13.5 percent inflation rate, 1.8 percent real GDP growth rate, and oil benchmark of 50 dollars, per barrel.
He added that the estimate was also based on the assumed exchange rate of N410 to a dollar.
