Governor Ahmadu Umaru Fintiri of Adamawa State has presented the 2021 appropriation budget of over one hundred and forty billion naira 140 billion naira to the Adamawa State House of Assembly for consideration.
The budget tagged Budget of Stabilization had a proposed seventy two point eight billion naira 72.8billion for capital expenditure representing 52% while recurrent expenditure has sixty seven point two billion naira 67.2 Billion representing 48% of the budget.
Governor Umaru Fintiri while presenting the appropriation bill on the floor of the Assembly in Yola said the budget is projected in terms of revenue sources that include Statutory Allocation: forty point nine billion naira 4.9 billion and Value Added Tax VAT eighteen point eight billion naira 18.8 billion .
Others include Stamp Duty two billion naira 2billion Naira , Excess Crude one point five billion naira 1.5billion Internally Generated Revenue twelve point one billion naira 12.1billion and Exchange Rate Difference two point six billion naira 2.6billion .
The rest are Stabilization Fund Receipts: two point five billion naira, Non-Oil Revenue one point five billion naira 1.5 billion, Support Fund three billion naira 3billion and Capital Receipts fifty five billion naira 55billion naira.
The Governor said the proposed appropriation is formulated in line with the 2021-2023 medium term expenditure framework and fiscal strategy paper as a matter of economic planning and policy.
Receiving the document, Speaker of the Adamawa state House of Assembly Alhaji Aminu Iya Abbas appealed to the Governor to prioritize the welfare of primary school teachers from the allocation in the education sector in 2021budget.