Governor Babagana Umara Zulum of Borno state, has said that government is set to establish a remittal platform for the Treasury Single Account (TSA) in its efforts to block leakages in revenue receipts and deposits.
The Commissioner for Finance and Economic Planning, Adamu Lawan, declared this at the breakdown of the 2021 budget appropriation.
He sais the remittal platform will be launched on March 15, 2021.As from March, all payments and revenue collected by government ministries, departments and agencies (MDAs) will be paid directly into the treasury single account.
He said that, the measures are aimed at blocking all leakages in revenue collection for the subsequent financial fiscal years and that, besides the adoption of TSA, the budget process will also be digitalized, including the capture of workers’ salaries and gratuities into the Integrated Payroll and Personal Information System (IPPIS) of Borno state.
The internally generated revenue, IGR, projection for 2021 budget was estimated at N16.6bn out of the total recurrent revenue size of N83.3bn.
According to him, “The Borno state government projected funds would accrue from the statutory monthly allocation from the federation account, grants and loans and other financial supports.
The approved 2021 budget size of N248.3 billion was targeted to improve security, boost agriculture and food production, and discourage dependence on food aids.
Noted that reconstruction of public infrastructure including roads, hospitals and water supply points are ongoing across the state.
He added that, the budget will also address the impacts of the corona virus (COVID-19) pandemic on the people.
The, People’s Budget of Recovery and Reconstruction, was about N140 billion higher than the 2020 reviewed appropriation bill accented by Governor Babagana Zulum.