Economy
Bauchi Gov. Presents N300bn For 2024 Budget To Lawmakers
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Bauchi Gov Presents N300Bn for 2024 Budget To Lawmakers
By Daily Hint
Governor Bala Mohammed of Bauchi has presented the N300 billion 2024 Appropriation Bill to the state House of Assembly for approval.
Presenting the proposals, tagged: “Budget of consolidation and renew of focus” on Thursday in Bauchi, Mohammed assured members of the house that the budget would be fully implemented.
According to him, 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 said that the budget was 48.2 per cent higher than the budget presented to the house in 2023.
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.
This, he said 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 realise 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,
“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 the 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.
Responding, Speaker Babayo Akuyam, assured that the budget would be speedily scrutinised and passed before the end of the year.
