Borno State Governor, Babagana Umara Zulum, has on Wednesday, presented a budget of N340 billion for the 2024 fiscal year from which Health, Education and works received major allocations.
Tagged “Budget of Consolidation and Progress” a total of N198,293,223,000 was allocated for capital expenditure, while N142,326,613,000.00 was allocated for recurrent expenditure.
Gov. Zulum noted that, “The budget will be financed from the recurrent revenue of N206,803,053,000.00 which comprises FAAC revenue and Internally Generated Revenue (IGR) and capital receipts of N128,816,783,000.00, comprising of Aid and Grant as well as capital development funds”.
According to the sectoral allocations, the Ministry of Finance got N53b allocated for its capital and recurrent expenditures including debt servicing, salary payment and gratuities to the retirees.
Other sectors like the Ministry of Agriculture got N13b, Ministry of Reconstruction, Rehabilitation and Resettlement got N20b, Ministry of Water Resources got N9.7b and Ministry of Information and Internal Security got N9.6b.
Speaker of Borno State House of Assembly, Abdulkarim Lawan, commended Governor Zulum for his achievements over the years.
He assured the Governor of the State Assembly’s resolve and commitment to pass the appropriation bill on time.
By El Shaddai
