Governor Umar Bago has presented 613 billion Naira to the state House of Assembly.
Tagged as, “Budget of the Future,” Bago said it will address the immediate needs of the state as well as serve as the road map for a visionary 20-year journey, captured in the Niger State Future Initiative.
Presenting the budget before the assembly members, Governor Bago said it was prepared, based on the Economic and Fiscal Year Update, (EFU), and Fiscal Strategy.
The 2024 budget is made up of a capital expenditure of about 464 billion, representing 75.7%, while the recurrent expenditure stood at about 149 billion, representing 24.3%.
The budget will be financed through recurrent revenue of over 298 billion, made up of statutory allocation, Value-added Tax, Internally Generated Revenue, excess crude or other revenue, SURE-P refunds, and capital receipts of over 315 billion, which comprise loans and grants.
In the sectoral breakdown of the budget, the Infrastructure, Housing, and Urban Renewal sectors got the highest allocation of 220.6 billion Naira, which represents 42%, Education, Agriculture, and Health sub-sectors got 76.2 billion, 43.5 billion, and 42.7 billion respectively, while the Law and Justice Department got the lowest estimate, which stood at 2.7 billion Naira.
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The Speaker of the Niger State House of Assembly, Abdulmalik Sarkin-Daji, assured that the 10th Assembly will properly screen the 2024 budget, in line with the “New Niger” Vision, to ensure its passage within a week.
He applauded the governor for his efforts at repositioning the state for greater development and projecting the state on the global map, promising the support of the legislative arm for the present administration to achieve its desired objective.
The 2024 budget is higher than that of last year, with 370 billion Naira.
(Editor: Ifeanyi Mark)
