Governor Ahmadu Fintiri of Adamawa has presented a ₦486 billion budget proposal for the 2025 fiscal year to the State House of Assembly on Monday.
Tagged the “Budget of Service,” the proposal seeks to fund government programs and services to drive development across the state.
The budget is based on economic projections of 1.8 million barrels of oil per day, $80 per barrel oil price, and an exchange rate of ₦1,315 to $1. It is aligned with the state’s Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.
Budget Breakdown
Recurrent Expenditure: ₦137 billion (28.23%)
Capital Expenditure: ₦349 billion (71.77%)
Revenue Sources
The revenue projections include:
Statutory Allocation: ₦53 billion (10.9%)
VAT: ₦91 billion (18.7%)
Independent Revenue: ₦24.6 billion (5.1%)
Capital Receipts: ₦91.5 billion (18.8%)
Expenditure Details
Personnel Costs: ₦72.8 billion (15%)
Overhead Costs: ₦64.5 billion (13%)
Capital Expenditure: ₦348.9 billion (72%)
Fintiri highlighted plans to adopt e-budgeting to enhance transparency and efficiency while cutting costs. He also reiterated the government’s commitment to clearing the backlog of gratuity and pension payments to retired civil servants.
The governor assured that the proposed budget would consolidate progress and deliver impactful services to residents.
