Nigerianewsflight

No #1 News site in Nigeria

Bauchi governor presents N300b budget for 2024 to lawmakers

Governor Bala Mohammed | Photo: Bauchi Govt House

‘A total sum of N121.3 billion is earmarked for the Recurrent Expenditure with personnel cost of N48.2 billion’ overhead cost of N73.1 billion’

By Ahmed Ahmed

Bauchi State Governor Bala Mohammed has presented a budget of N300 billion for 2024 to the state House of Assembly for approval.

Mohammed, who presented the proposals, tagged, “Budget of consolidation and renew of focus” on Thursday in Bauchi, assured the lawmakers of full implementation of the budget.

He explained that N178.8 billion Capital Expenditure of the budget represents 59.6 per cent, while N121.3 billion for Recurrent Expenditure, represents 40.4 per cent.

Mohammed pointed out that the budget was 48.2 percent higher than the budget presented to the house in 2023.

Also read: Stakeholders task Bauchi South Senator on abandoned road projects, security

He explained that the increase was attributable to increased revenue arising from the subsidy removal and the upward inflationary trend associated with the depreciating local currency.

He said, “This implied an increase in prices upon which the government’s projects and programmes would be implemented.”

“A total sum of N121.3 billion is earmarked for the Recurrent Expenditure with personnel cost of N48.2 billion, overhead cost of N73.1 billion.

“It is projected that the state would realize capital receipt in the sum of N89.6 billion from internal and external loans of N50.9 billion, aid and grant of N24.18 billion and other capital receipt of N14.6 billion,” he said.

“Capital expenditure has been proposed in the sum of N178.8 billion in the following areas – N19 billion for administrative sector, economic sector would take N74.9 billion, law and justice sector would take N2 billion.

“Regional sector takes N17.2 billion, social sector which involves health and education has N65.7 billion,” he said.

While appraising the performance of 2023 budget, Mohammed said that it achieved about 51.6 per cent, adding that at the end of the fiscal year, they would achieve a total performance percentage of over 60 per cent.

He, however, solicited the continuous support of the lawmakers towards the development of the state and speedy passage of the 2024 Appropriation Bill into law.

The Speaker Babayo Akuyam assured that the budget would be speedily scrutinized and passed before the end of the year.

valoa2000@yahoo.com

Related articles

Featured
Arrow Strike
Explore