Gombe Proposes ₦116bn Budget For 2021

Gombe State Finance Commissioner, Muhammad Magaji, says the state government has proposed ₦116 billion for the 2021 budget.

He made this known while briefing journalists on Tuesday, after an Executive council meeting presided by Governor Inuwa Yahaya, at the government house.

Magaji said, “All the people from all walks of life contributed, trade unions, youth, women groups, and various associations attended the stakeholders’ engagement. Part of this culminated in the document we submitted to the exco for consideration and it has been approved.

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“2021 proposed budget has a size of ₦116 billion, out of which ₦58 billion is for capital ₦57 billion for recurrent expenditure, 49 per cent recurrent expenditure, 51 per cent capital expenditure.”

He added that the 2021 budget is 7.5 per cent higher than the revised 2020 budget, stressing that the medium-term framework has been submitted and a physical strategy paper to the House of Assembly.

“The revised COVID-19 budget stood at ₦107 billion. The budget deficit for 2021 is ₦5 billion, 4 per cent of the budget size. We will be financing through internal and external borrowings, external borrowing is at 3 per cent, while our internal borrowing will be at ₦4 billion, total borrowing is about ₦7 billion for 2021 budget,” Magaji said.