Adamawa State Governor, Umaru Fintiri, yesterday presented a N486.218 billion state budget for the 2025 fiscal year to the House of Assembly for consideration and passage.

The governor, who tagged the budget as ”Budget of Service,” however, explained that the recurrent expenditure for the year stands at N137.256 billion, while the capital expenditure estimate is over N348 billion.

According to him, the budget is articulated on current micro-economic indicators, including an oil production benchmark of 1.8mbpd, and oil price benchmark of $80.00 per barrel, and an exchange rate of ₦1,314.94 to the Dollar.

Speaking on the floor of the state House Assembly, Fintiri said the proposed budget is in line with the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

He noted that the breakdown of the budget includes N137,256,217,610 (28.23 per cent) for recurrent services, while N348,961,829,990 (71.77 per cent) is earmarked for capital devel opment programmes.

Fintiri, who emphasised the importance of transparency and accountability in budget preparation and implementation, he explained that the revenue sources for the budget include statutory allocation of N53,000,000,000 (10.9%); share of VAT of N91,000,000,000 (18.7%), independent revenue of N24,568,582,500 (5.1%), and capital receipts of N91,517,465,100 (18.8%).