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Home»Business/Economy/Banking & Finance»SOKOTO approves N27bn 2021 supplementary budget
Business/Economy/Banking & Finance

SOKOTO approves N27bn 2021 supplementary budget

Abdallah el-KurebeBy Abdallah el-KurebeJune 18, 2021No Comments2 Mins Read
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Sokoto state executive council on Thursday, approved over N27 billion for 2021 supplementary budget.

The state commissioner of information, Isah Galadanchi stated this while briefing newsmen after the state executive council meeting chaired by governor Aminu Tambuwal.

He said the bill for the supplementary budget was deliberated by the council and will be sent to the state house of assembly (SOHA) for consideration and passage into law.

According to Galadanchi, the council also approved the upgrade of the new ongoing Sports Complex to the standard of a full-fledged stadium, which initially had the capacity of 4,700 to 11,000-seats at the cost of over N781 million.

The cost of the contract, which was initially over N1.250 billion, is now raised to over N2.32 billion.

The commissioner added that the council ratified the proposal to secure loan facility from Zenith Bank PLC in order to pay the state government counterpart funding for the actualisation of the 2020 and 2021 Universal Basic Education Commission (UBEC) marching grant.

Galadanchi further said that the sum of over N715 million will be secured for 2020 and over N946 million for 2021 UBEC intervention and the facility would be paid back in 12 months.

Similarly, the council approved the state Child Protection Bill after its deliberation with a view to forwarding it to the state assembly for passage into law.

Sokoto Supplementary budget Tambuwal UBEC counterpart funding
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