The Niger State House of Assembly has approved both the revised 2024 Budget and the Supplementary Appropriation Bill, marking a significant step forward in the state’s financial planning.
During the session, Hon. Zubairu Ismaila Zannah, the member representing Rafi Constituency and Chairman of the House Standing Committee on Planning and Appropriation, presented a comprehensive report detailing the committee’s extensive review process.
He elaborated that the committee conducted a thorough examination of the budget documents, engaging in discussions with key stakeholders, including officials from the Niger State Planning Commission, the Ministry of Finance, and the Niger State Internal Revenue Service. This collaborative interface was aimed at gathering valuable insights and inputs to inform the decision-making process.
The committee’s deliberations culminated in a strong recommendation for the approval of the revised 2024 Budget, reflecting careful consideration of economic realities and stakeholder feedback. Notably, Hon. Zannah highlighted that the 2024 Supplementary Appropriation Bill was necessitated by several key factors, including an expected increase in revenue inflows, estimated at ₦213,737,470,338.00.
This supplementary budget also addresses the implementation of the new minimum wage of ₦80,000, as well as the impacts of the recent fuel subsidy removal on the state’s economic activities.
An analysis of the supplementary budget reveals a breakdown of expenditures: ₦36,859,819,029.00 is allocated for recurrent expenditures, while ₦154,743,565,593.24 is earmarked for capital expenditures, bringing the total budget to ₦191,603,384,622.36. These figures demonstrate a significant investment in both operational and developmental aspects of the state’s economy.
In addition to the approvals, the committee chairman provided further insights into the committee’s observations and recommendations. He noted that the provision for the Bond/UBA facility was considerably high, especially considering the recent fuel subsidy removal and the prevailing high rates of dollar exchange, which could pose challenges to financial planning.
The supplementary budget’s focus on personnel, overhead, and capital expenditures was also discussed, with assurances that all proposed capital projects were deemed viable and consistent with the government’s priorities. However, he pointed out that the bill lacked a comprehensive provision for total supplementary appropriations.
Following the presentation, the House transitioned into a Committee of the Whole to examine the Appropriation Bill in detail, clause by clause. This meticulous review process resulted in the unanimous adoption of the bill, with all relevant clauses being thoroughly considered and approved by the lawmakers.
The Speaker of the House, Rt. Hon. Barr. Abdulmalik Muhammad Sarkin-Daji, who presided over the session, applauded the committee for their diligent work and directed the Clerk of the House to prepare and transmit clean copies of the bills and resolutions to the Executive for further action. This marks a collaborative effort to ensure that the state’s financial framework is robust, responsive, and aligned with the needs of its citizens.