Niger State Governor, Muhammed Umaru Bago has presented the 2024 Appropriation of N613, 274,081,698.17 to the state House of Assembly for legislative scrutiny and speedy passage.
Presenting the budget, christened, “The Budget of the Future”, the Governor said the 2024 budget is a pivotal roadmap toward the state’s shared vision for a prosperous future.
He explained that the proposal is made up of N149,217,969,152.00 representing 24.33% as recurrent expenditure and N464,056,832,546.60 or 75.67% of the total budget size as capital estimate.
The Governor stated that the budget would be financed through Recurrent Revenue of N298,052,655,520.00 made up of:
Statutory Allocation, N155,963,711,064.00, Value Added Tax, N50,644,000,750.00, Internally Generated Revenue, N61,868,620,968.35, Excess Crude/Other Revenue, N9,576,322,737.00 as well as SURE-P Refund -N20,000,000,000.00.
All the figures brings the budget to a total of N298,052,655,520.00
According to him, ” The Budget is also to be financed by Capital Receipts of N315,322,146,178.00 which is made up of N256,459,074,825.00 and N58,763,071,353.00 as loans and grants respectively”
Bago further revealed that the proposed 2024 budget is based on the Economic and Fiscal Update (EFU), Fiscal Strategy Paper (FSP) and Budget Statement (BPS) of 2024 – 2026 as passed by the state assembly.
Responding, the Speaker of the Assembly, Abdulmalik Sarkindaji told the Governor that the House will work speedily to ensure the quick passage of the budget before the 27th of December,2023.
He commended the cordial relationship existing between the House and the Executive arm which the speaker hinged on years of experience the Governor garnered at the National Assembly.