Niger reduces 2020 budget by 21.23%
Niger State budget for the current fiscal year has declined shrank by 21.23 per cent, the state House of Assembly has revealed.
The house said a shrink in the total budget size by 21.23 per cent for 2020, was as a result of the outbreak of the dreaded Coronavirus pandemic in the country.
According to the original Appropriation Bill passed into law by the House was N155, 459,814,700.82, but, currently brought down to N122, 448,111, 676.00.
This was contained in the Report of Committee on Planning and Appropriation on Review of Medium Term expenditure framework (MTEF) and Fiscal Strategy Paper(FSP) 2020-2022 as adopted by the Assembly on Thursday.
While presenting the report to the whole house, Chairman the committee and member representing Wushishi Constituency, Hon. Muhammad Lokogoma said the review of indices and other revenue projections led to a reduction in the budget size.
“In carrying out this, the Committee invited the relevant stakeholders, including, the State Planning Commission and Ministry for Finance for interface and this is the basis of this report”, he said.
He explained that the adjustments in resource projections are in line with current realities.
The committee chairman noted that the adjustments resulted in a drop in projected Statutory Allocation from N66.79 billion to N40.53 billion, representing 39 per cent fall in the estimated Statutory Allocation.
Other areas affected is the Internally Generated Revenue (IGR) reviewed downward from N18.69 billion in the 2020 Appropriation Bill to N14.38 billion, representing 23 per cent.
“The decline in IGR is due to restrictions on the movement of goods and services as a result of Coronavirus pandemic. ”
The Committee chairman also disclosed that drawdowns from Development Partners which is projected at N50.26bilion is now N46. 57 billion adding, ” it is due to restrictions on international travels and close down of partner’s offices.”
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Lokogoma, however, revealed that sources not affected by the review include Dividend from North-South Power, payment National Electricity Liability Company, NELCO, as well as Refund from Federal Roads, PFAs and Family Home Program.
