Benue Slashes 2020 Budget by N70 Billion

Owing to the current economic realities and the impending recession caused by coronavirus pandemic, the Benue State Government has cut down the 2020 budget from N189 billion to N119 billion.

The state Governor, Samuel Ortom, disclosed this recently at the Benue Peoples House in Makurdi while briefing journalists shortly after a meeting of the State Executive Council which also had in attendance members of the state Action Committee on COVID-19.

He explained that the downward review of the budget which is to be forwarded to the state House of Assembly became necessary following International Monetary Fund (IMF) projection of a recession in Nigeria that would force a contraction of the country’s economy by 3.4 percent and states of the federation would be adversely affected.

Ortom said as part of measures to mitigate the negative effect of the looming recession, the state has resolved to take advantage of its rich agricultural potential by going into increased food production not only for consumption but also for be commercial


Follow us on Twitter at @thesignalng

Copyright 2020 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant source.

There are no comments

Add yours