TOPIC:OVERVIEW OF THE 2022 BUDGET.
AUTHOR:JOACHIM DANGANA PETERS.
Budget presentation is an annual ritual that is Central to the sustenance of any administration,that is why Tarabans were not surprised when Governor Darius Dickson Ishaku on Friday nineteenth of November, twenty twenty one presented the twenty twenty two appropriation bill that contains details of the proposed budget estimate of the State of over one hundred and forty six billion naira for the next fiscal year at the Hallow Chamber of the Taraba State House of Assembly Jalingo.
As a sub National Government with no control over monetary policy, the 2022 budget tagged budget of hope and consolidation was guided by macro economics variables determined by the Federal Government which include,International oil price bench mark of fifty seven dollar par barrel,oil production quota of one point eighty eight million barrels per day,United States Dollar exchange rate to four hundred and ten point fifteen,inflation rate of thirteen percent and GDP growth rate of four point twenty percent.
The projected revenue of over one hundred and forty six billion naira represents an increase of over five billion naira or thirty six percent increase than the twenty twenty one approved budget which comprises over three hundred and fifty million naira representing zero point twenty four percent ,Internally generated revenue IGR estimate of ten billion naira zero kobo representing six point eighty one percent, Federal Statutory Revenue of over fifty billion naira representing thirty four point fifty two percent, state share of value added tax of over nineteen billion naira representing twelve point ninety four percent.
Others are Federal Government bridging facility of over eighteen billion naira representing twelve point forty two percent, Domestic borrowing of over seventeen billion naira representing eleven point ninety two percent,Aids and grants of over eighteen billion naira representing twelve point fifty two percent,external loan estimate of over twelve billion naira representing eight point twenty percent and the sales of Government Assets of over six hundred and thirty million naira representing zero point forty three percent.
Total recurrent expenditure was estimated at over seventy eight billion naira representing fifty three point nineteen percent,made up of total personnel cost of over thirty nine billion naira or twenty six point seventy four percent, over head cost of over twenty three billion naira or fifteen point ninety four percent,social benefits old and aged of over one billion naira or zero point ninety percent, Grant and subsidies of over three hundred and ninety million naira or zero point twenty seven percent and debt services of over thirteen billion naira or nine point thirty four percent.
The twenty twenty two budget has capital expenditure estimate of over sixty eight billion naira representing forty six point eighty one with economic allocated over thirty seven billion naira representing twenty five point thirty three percent, Social Services of over twenty two billion naira representing fifteen point fifty three percent,law and justice, over two billion naira representing one point eighty one percent, Administrative over six billion naira representing four point thirteen percent.
In implementing the twenty twenty two budget,Governor Darius Ishaku resolved to fast track the completion of all ongoing capital projects which would be hinged on all Ministries, department and agencies to ensure that they vigorously collect account for and remit their internally generated revenue to improve revenue collection,they must block all leakages,rationalise expenditure in view of the fact that personnel cost and capital expenditure account for over seventy percent of the twenty twenty two budget.
During the presentation, the State Governor also made it explicit that the implementation of the twenty twenty two budget will welcome citizens participation via monitoring or over sight due to his administration signed in partnership in Open Government Partnership OGP with Civil Society Groups.
At his point, Speaker of the State House of Assembly Professor Joseph Albasu Kunini and all Members of the State House of Assembly must be commended for partnering with the executive in ensuring that bills are considered and passed with speed.
Commissioner of Budget and Planning Solomon Elisha must also be given a pat on the back for ensuring that since the inception of the present administration, budgets are been breakdown to the lay man's understanding which has also been transmitted and published in various media platforms.
As the budget is tagged,budget of hope and consolidation there is hope for all Tarabans as Government strive to complete all ongoing projects and as well initiate new ones for the good of the people.
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