The Bauchi State Governor, Bala Mohammed, on Friday, presented the 2024 budget proposal of N300 billion to the state House of Assembly for approval.
Mohammed, who tagged the appropriation bill “Budget of Consolidation and Renewal of Focus,” assured the lawmakers of its full implementation.
He said the sum of N178.8 billion has been earmarked as capital expenditure and N121.3 billion for recurrent spending in the budget.
Mohammed said the budget was 48.2 percent higher than the 2023 budget.
He pointed out that the increase was due to increased revenue from the subsidy removal and the upward inflationary trend associated with the depreciating local currency.
The governor said: “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 receipts 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 the administrative sector, the 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.”