Niger State Executive Council downsized the 2020 approved budget by 36 percent due to corona virus pandemic, Niger State Commissioner of Budget and Planning, Honorable Mamman Musa disclosed this during post exco media briefing held at the Government House, Minna.
Honorable Mamman Musa said that the assented 2020 budget which stood at N155billion will be downsized to N98billion when approved, the Commissioner stated that the State will be mindful of the recurrent expenditure which in the 2020 budget stood at N70Billion while the capital expenditure stand at N85Billion respectively.
The Budget & Planning Commissioner, Honorable Mamman Musa reiterated that when the adjustments is approved, the budget will be concentrated on projects that have attained 75 percent completion, he said new projects will be considered based on their necessity of demand.
Honorable Maman Musa affirmed that overhead cost to Ministries, Departments & Agencies (MDAs) will be reduced to 75 percent as well as travel expenses of government officials, the Commissioner said the downward review of the 2020 budget has become imperative due to the global economic downturn caused as a result of the Corona virus pandemic.
Honorable Mamman Musa stressed out that the 2020 budget was prepared with 90 per cent of income projection coming from the statutory allocation hinged on the oil sector with a benchmark of $57 per barrel which the outbreak of Corona virus has collapsed the global oil prices dropping below $30 per barrel which has drastically affected the 2020 budget with a need for the review.
The commissioner pinpointed that the state government is already looking inward towards enhancing it internally generated revenue to cover some of the envisaged short falls.
By Information Officer
Niger State Planning Commission