COVID-19: Benue reviewing economic effects of partial lockdown – Commissioner
Benue State Commissioner for Finance and Economic Development, Mr. David Olofu, has explained that the state is currently reviewing the effects of the partial lockdown on the economy.
Olofu, who disclosed this to newsmen on Monday in Makurdi, said that the review would enable government take proper steps to shore up its revenue generation within the period of the lockdown.
He noted that the lockdown had already started having negative impacts on the economy, saying that this had made the government to have a downward review of the budget from N195 billion to N119 billion, a drop of N70 billion.
The commissioner said that his ministry had already commenced work on the reviewed budget and assured that it would soon be submitted to the state legislature for approval.
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He said that the budget cut was to reduce the gap between the already approved budget and the current reality of crashed revenue inflows.
Olofu, who is also the chairman of Commissioners’ of Finance Forum, said that the April allocations would be discussed by the forum through a video conferencing to avoid social contact.
He said that the decision was to observe the lockdown currently imposed on many states, owing to the growing COVID-19 pandemic.
The commissioner called on the Federal Government to kick-start the distribution of palliatives to the state to cushion the effect of the lockdown.
On whether the state was contemplating wage cut or staff rationalisation, owing to the sharp drop in revenue generation, he said it was too early to be contemplating such an action now.
