Plateau to borrow 20 billion naira to finance 2022 budget of n106 billion
Plateau State Governor Simon Lalong presented a budget proposal of N 106,807,267,642.12 to the State Assembly House for 2022 on Thursday.
While presenting the budget labeled “A Budget for Economic Stimulus and Consolidation of Inclusive Infrastructure Growth 2” to the House, the governor said the supply bill was designed for the completion of ongoing projects and l ‘activation of new projects that would have an impact on people’s lives.
He said that the 2022 budget estimate consisted of N76,263,701,644.62 as recurring expenses, representing 71.4% of the total budget, adding that N 30,543,565,997.50 was allocated to the capital estimate representing 28.6%.
He explained that the budget would be funded from different sources, including internally generated revenue, N24bn; the statutory income allowance, N55bn; Aid and subsidies, N3bn; Capital Development Fund, 3 billion naira; as well as national loans, 20 billion naira.
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