Taraba State Governor Agbu Kefas has assented to a supplementary budget of 143.4 billion naira for the year 2025 alongside a virement of 14.6 billion naira, as approved by the State House of Assembly.
The House Committee On Finance and Appropriation’s report indicates that the supplementary budget will aid the State Government in responding to emerging economic and security challenges.
The funding is also expected to realign the government’s spending with the Medium-Term Expenditure Framework (MTEF) and accelerate the implementation of strategic development projects.
The supplementary budget aims to cushion the impact of inflation, and the pressure of exchange rates on ongoing projects in the State, as well as tackle urgent funding needs in critical sectors of the state, including security, infrastructure, and economic development.
The State House of Assembly tasked the government on transparency, accountability, and timely release of funds to achieve the intended outcome of the supplementary budget.
With the supplementary budget assented to by the State Governor, the State’s 2025 budget has been reviewed upward from 429.8 billion naira to 574.8 billion naira, with a capital expenditure of 68.9 percent, and recurrent expenditure of 31.1 percent.
(Editor: Nkoli Omhoudu)
