The Yobe State Governor, Hon. Mai Mala Buni, has presented a budget of N217 Billion for the year 2024 to the state House of Assembly.
The budget tagged, ‘Budget of Consolidation and Economic Recovery, is geared towards completion of ongoing projects and funding new ones.
Buni while presenting the 2024 Finance and Appropriation Bills before the State House of Assembly, said the budget is unique in the sense that it will serve as a launch pad for another developmental phase of our second term of office.
“To achieve this, we have proposed a total sum of Two Hundred and Seventeen Billion Naira Only (N217,000,000,000.00) for capital, recurrent, overhead and personnel costs. Out of this amount, the total sum of Ninety-Four Billion, One Hundred and Fifty-Six Million Naira only (N94,156,000,000) representing 43.39% is proposed as recurrent expenditure, while the total sum of One Hundred and Twenty-Two Billion, Eight Hundred and Forty-four million Naira only (N122,844,000,000) representing 56.61% is allocated for capital expenditure”, the Governor said.
While giving the highlights of the 2023 budget performance, Buni told the lawmakers that N163,005,366.000.00 was approved to cater for both capital and recurrent expenditure of the 2023 fiscal year
“The actual receipts that accrued into the coffers of the state from the Federation Account Allocation, Internally Generated Revenue and other sources including the Opening Balance covering the period of January to September 2023 stood at N113,058,102,539 translating to 69.4% of the approved budget.
“Out of the sum of N94,875,717,000.00 earmarked for recurrent expenditure in the 2023 Budget, the actual amount expended was N65,996,618,366 representing 69.6% success.
The sum of Sixty-Eight Billion, One Hundred and Twenty-Nine Million, Six Hundred and Forty–Nine Thousand Naira (N68,129,649,000) was allocated for capital expenditure, however, the sum of was the actual expenditure. N28,862,910,126 indicating 42.4% success.
“The overall performance of the 2023 budget for both recurrent and capital expenditures was N94,859,528,492 indicating 58.2% success as of 30th September 2023.
“The total receipts and expenditure are expected to increase before the end of the year”, he said.
The 2024 Finance and Appropriation Bills passed first and second readings at the floor of House, with the Speaker of the Assembly Chiroma Buba Mashio assuring of speedy passage of the Bills before the end of December, 2023 for the provision of more dividends o of democracy to people of the state.
By El Shaddai