Pension Board: Taraba budgets N4.72 billion for 2022

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Pension Board: Taraba budgets N4.72 billion for 2022

Taraba State Government has budgeted the sum of N4.72 billion for the state pension board in 2022.

This was disclosed by the Taraba State Commissioner for Budget and Planning, Solomon Elisha while giving a breakdown of the state’s 2022 approved budget estimate of N149.78 billion.

The 2022 budget whose implementation is expected to commence this month in compliance with the January to December budget cycle has an opening balance of N350 million.

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The state is also expected to spend the sum of N78.07 billion on recurrent expenditure while capital expenditure is projected to gulp N71.71 billion.

Elisha said the 2022 budget would be funded from the state’s expected revenue.

According to him, “33% of the expected revenue would come from statutory allocation (N50.66 billion), 12% from Value Added Tax, VAT (N19 billion), 21.50% from Loans (N32.23 billion), 12.24% from Aids and Grants (N18.3 billion), 6.66% from IGR (10.31 billion) and 12.60% from FG Support Facilities (N18.85 billion).

“In this regard, there is a need for all hands to be on deck to explore the abundant untapped resources to actualize our dream of becoming the leading economy in the North-East sub-region.” He said.

He urged all Ministries, Departments, and Agencies, MDAs, of the state government to comply with the government’s directive of blocking leakages and remitting all IGR.

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