Zamfara State Governor, Alhaji Abdulaziz Yari Abubakar, has signed the year 2016 appropriations into law, said the States are ready for the diversification of the country economy through the exploration of abundant solid minerals resources and agriculture development.
The governor expressed optimism that the glory of the oil prices at the global market would soon be restored.
Yari expressed this yesterday while signing the 2016 budget into law, at government house council chamber in Gusau the state capital.
He said promised to ensure full implementation of the budget, and charged members of the state house of assembly to be up to their constitutional responsibilities of oversight function.
He said the era of total dependence on oil funds for the implementation of state budget has gone, and called on all Nigerians to support President Buhari administrations towards diversifying the economy of the country so as explore other opportunities that would complement the oil sector.
The budget which was downsized by the assembly during their appropriation proceedings from over N109billion as presented by the governor to N100billion, with over N59billion devoted to capital expenditure while N40billion was approved for the recurrent expenditure respectively.
The governor explained that members of the Oil Producing Countries are meeting soon in Australia to review the prices of the oil products in view of the global economic challenges
‘’States are ready for the diversification of the economy more especially we are waiting for the Central Bank of Nigeria who have the master plan for the diversification of the economy.
It is imperative for our country to diversify our economy from oil sector to other non-oil sectors more especially agriculture and mining. It is therefore necessary for CBN to create funds for the diversification,’ said Yari
According to the governor, the downsized of the budget was a good development considering global challenges facing oil industries.
Earlier, Speaker of the State House of assembly, Rt. Hon. Sanusi Garba Rikiji, said the house through its finance and appropriation committee invited all MDAs to defend their proposals through which some amendments and observations were made from the initial budget.
‪He said some of the factors that led to the downsized of the state budget includes; unprecedented oil prices in the oil market, relevance of the proposed projects to the citizens of the state, duplication of projects or budget, and the status of the state internally generated revenue.


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