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Ortom signs 2020 revised budget of N108.8bn

Benue State Governor, Samuel Ortom, yesterday signed into law, the revised appropriation bill of N108.8 billion for the year 2020. The revised budget has a total reduction of N80 billion from the earlier N190.8billion assented to by the governor.

This translates to 43 per cent reduction in the earlier reviewed budget signed by the governor on December 30, 2020. Ortom, while performing the ceremony at the government house in Makurdi, said the action became necessary following the reduction in oil-related and non oil revenues to the state occasioned by the Coronavirus pandemic.

 

The revised budget has recurrent expenditure of N68.6billion representing 40 per cent reduction from the former estimates and personnel cost of N37.3billion, representing a reduction of 26 per cent, while overhead cost and capital projects have estimates of N31.3billion and 40.3billion respectively, representing 51 and 46 per cent reduction.

The governor explained that despite the reduction in the current expenditure estimates by 59 per cent, government had kept faith with its responsibility to the general workforce by protecting the personnel budget with very minimal reductions in some discretionary allowances.

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