Plateau State governor, Simon Lalong yesterday signed into law the 2015 appropriation bill, which was passed by the state House of Assembly.
The budget, which stood at N215, 465,835,418.00 was presented by the immediate past administration of former governor, Jonah Jang before vacating office. Lalong said it will be funded from internal and external revenue sources.
Read also: Fraud Allegations: Step Aside For Investigation, PDP Tells Lagos Speaker, Obasa
In his speech presented at the event, the governor said the exercise was in accordance with Section 121 sub-section (1) of the 1999 constitution.
His words, “It is my honour to sign the appropriation bill into law. The last administration on the 23rd December, 2014 presented to the state House of Assembly an estimate of N215,465,835,418.00 only.
“This was made up of N122,971,499,596.00 only for capital expenditure while recurrent expenditure was 92,494,335,822.00 only.
“The House deliberated on the budget and passed a budget size of N215,457,618,204.72 only for the service year. This shows a drop of N8,217,213.28.
“On this amount, N119,820,361,148.01 only is for capital expenditure and N95,637,257,056.71 only is for recurrent expenditure.”
Lalong added that “the budget will be funded from internal and external revenue sources amounting to N111,513,644,192.00 only and this shows that the budget has a deficit figure of N103,943,974,012.72 only to be financed from internal loans and government bonds.”
Read also: Senate Approves Buhari’s N850b Loan Request
