Thursday, 8 February 2018

PLATEAU: 2018 BUDGET BREAKDOWN: ECONOMIC SECTOR ALLOCATED 33BILLION, AS REVENUE GENERATION TAKES CENTER STAGE


By; Alfred Saiki,
 
With the dwindling revenues from the Federal Account, Plateau State Government has decided to look inwards and has put measures on ground to enhance revenue generation of the state and as well reduce the cost of governance.
 
ALH. SANI YAHAYA FLANKED BY OTHERS
The Permanent Secretary, Ministry of Finance, Alhaji Sani Yahaya made this known today, when he presented details of the 2018 Budget at the conference hall of the state’s Cabinet office.
 
You would recall that, Governor Simon Bako Lalong, had signed the Plateau State 2018 Appropriation Bill into law recently. 


Presenting the Budget tagged, “Budget of Rescue and Consolidation”, Alh. Sani Yahaya, emphasized that the administration is willing and committed to its rescue mission in the state but, financing has become a challenge, hence, the need to look inwards has become paramount.

Alh. Yahaya said, “From the analysis of this year’s Budget you will agree that this administration is truly willing and committed to consolidate on its Rescue Mission. However, we cannot achieve this without the desired revenue to finance projects and programmes of the state. 

“It is no news that revenues from the Federation Account is dwindling hence, the need for the state to look inwards became paramount. To this effect, government has put in measures to enhance revenue generation of the state, as well as, reducing cost of governance”.
Some of the measures the government intends to use to increase revenue generation and reduce cost of governance according to the Permanent Secretary amongst others includes the centralization of taxes and levies into Single Treasury Account (TSA) through the use of SMART collect platform.
 
 The Secretary said, “This will enhance the revenue generation of the state and check leakages and fraud in financial operations.”

From the information provided in the text of the Budget breakdown, the state has revamped the State Financial Management Information System (FMIS) by the implementation of and Accounting for Public Funds in accordance with the IPSAS reporting. 

State further that this will eventually be used to manage the Payroll System thereby enhancing accountability and transparency in revenue and expenditure management.

Furthermore, in a drive to strengthen the Financial Management System of the State, the Plateau State Government also disclosed that it has established an Efficiency Unit, Public Procurement Agency and Coordinating Office for all Donor Funds, to save cost in government procurement, expenditures process and attract investments, as well as the constitution of the State Task Force on Revenue Collection and Monitoring.

According to the breakdown document, the Sectorial Breakdown is as follows:

1.      Administrative Sector   -        N17,154,052,839.00    24.33%
2.      Economic Sector           -        N33,052,176,415.00    48.29%
3.      Law and Justice             -             N504,050,000.00     0.71%
4.      Social Sector                  -       N18,794,798,276.00     26.65%
TOTAL                          -       N70,505,477,530.00     100%

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