Tuesday, December 5, 2023

Taraba assembly passes N215.6bn budget

The Taraba State House of Assembly on Tuesday passed the state’s 2020 budget estimate of N215.6bn into law.

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, increased the budget by N2bn, bringing the budget to N215.6bn.

Speaking to journalists after the passage, the Speaker, Joseph Albasu-Kunini, commended his colleagues for the timely passage of the budget.

According to him, the increase of N2bn in the budget was based on the new Value Added Tax of 7.5 per cent.

Albasu-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 January 31 was good for the development of the state.

Our correspondent reports that the budget has over N71.5bn, representing 33.5 per cent as recurrent expenditure and over N142.6bn, representing 66.5 per cent as capital expenditure.


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