KEY POINTS
- Nasarawa Assembly revised the 2025 budget to N402.57 billion, a N20 billion increase, to address inflation impacts.
- Recurrent expenses now total N166.38 billion, with N236.18 billion allocated for capital projects, ensuring development-driven focus.
- Bipartisan support underscored adjustments, aimed at fostering economic stability and mitigating fiscal challenges in 2025.
Nasarawa State House of Assembly has revised its 2025 budget upward by N20 billion, reflecting the state’s proactive response to inflation and economic headwinds.
The adjustment increases the original budget proposal by Governor Abdullahi Sule from N382.57 billion to N402.57 billion, signaling a strategic pivot to address emerging fiscal realities.
Budget revision to navigate economic challenges
The decision was finalized during legislative deliberations on Wednesday in Lafia, where Speaker Rt. Hon. Danladi Jatau unveiled the adjustments following the Finance and Appropriation Committee’s report, presented by Chairman Hon. Hudu A. Hudu. The revised Appropriation Bill underscores the Assembly’s resolve to mitigate inflationary effects while ensuring sustainable economic growth.
“The committee recommended an upward review of the budget size by N20 billion due to the significance of certain budgetary items and the prevailing market inflation,” Jatau stated. He expressed confidence that the expanded budget would invigorate local economic activities and improve living standards across Nasarawa State.
Focused allocation for development and stability
The revised budget designates N166.38 billion for recurrent expenditure and N236.18 billion for capital investments, maintaining a development-centric approach. The strategic allocation reflects the Assembly’s dual priorities of fostering economic stability and enhancing public welfare. The Speaker also noted that the date for the bill’s third reading would be announced shortly.
Bipartisan collaboration strengthens fiscal plan
Chairman Hon. Hudu commended the swift and collaborative efforts of lawmakers and state Ministries, Departments, and Agencies (MDAs) in facilitating the revisions. “These adjustments align with economic codes and aim to counteract inflationary pressures,” he noted.
Majority Leader Hon. Suleiman Yakubu Azara’s motion to adopt the committee’s report received unanimous support, seconded by Minority Leader Hon. Luka Iliya Zhekaba. The bipartisan consensus underscores the Assembly’s unified commitment to addressing fiscal challenges and ensuring economic resilience in 2025.
Governor’s initial proposal refined
Governor Sule’s original “Budget for Economic Growth and Stability,” unveiled in November 29, 2024, aimed to foster development and mitigate economic volatility.
According to Punch, the Assembly’s upward revision of N20 billion amplifies this vision, reinforcing a roadmap to bolster infrastructure, enhance public services, and stabilize the state’s economy.
By prioritizing inflation mitigation and development-driven investments, the Nasarawa State House of Assembly demonstrates its commitment to navigating economic challenges while positioning the state for sustained growth in 2025.
