Yobe State governor, Ibrahim Gaidam, has said his government would be spending N69.3 billion for the general development and running of the state in the coming 2017 fiscal year.
The proposed amount is N19.5 billion less than the 2016 budget, is one the smallest in the country, at a time many states are raising their budgets as they face the effect of economic recession.
Speaking at the Yobe State House of Assembly on Thursday, Mr. Gaidam said his government planned to spend N27.4 billion as capital expenditure and N41.98 billion for recurrent expenditure.
The governor said the 22 per cent reduction in the 2017 budget was informed by the current economic recession partly caused by the fall in price of oil.
He said despite the challenges faced by the government, his government remained “focused to make concerted efforts aimed at improving the quality of life of the citizens of the State”.
The governor said the proposed budget would be funded by the projected incomes from Internally Generated Revenue of about N3.8 billion, Statutory Allocation of about N35.4 billion, Value Added Tax of about N7.4 billion, Ecological Fund billion.
Others are Excess Crude Oil money N2.5 billion, grants of N3.5 billion, External Loans of N490 million, Internal Loans of about N12.3 billion, Miscellaneous expectations of about N1.5 billion, as well as funds from the treasury opening balance of about N500 million.