Governor Zulum Presents N234.8 Billion As 2023 Appropriation Bill Before The Borno State House of Assembly
By Madu Mohammed, Maiduguri
Governor, Babagana Zulum of Borno state has on Wednesday presented the sum of N234,831,950, billion to the state House of Assembly as 2023 appropriation bill for consideration and passage into law.
Presenting the Budget before the Borno state House of Assembly, Maiduguri on Wednesday, Governor Babagana Zulum said the budget which tagged ” Budget of “continuity for Sustainability” was in line with the recovery policies and programmes of the 10-Pact Agenda, 25 Year Development Framework and 10-year Strategic Transformation Plan of his administration.”
” It is indeed a great privilege and honour to be here for the fourth time in a four-year tenure in fulfillment of my constitutional responsibility to present the 2023 Appropriation Bill, which encapsulate our estimates and expenditures for 2023 Fiscal Year”, he added.
The 2023 budget which has a total the sum of N234,831,950,000.00 is made up of N144,175,033,000.00 as capital expenditure, while N90,656,917,000.00 as recurrent expenditure and to be financed from Recurrent Revenue of N137,846,861,000.00 which will comprise FAAC Revenue of N67,981,950,000, and
Internally Generated Revenue of N33,171,306,000.00 and value Added Tax of N30,193,605,000.00, as well as other Federation Account sources of N6,500,000,000.00
The budget which stood at N234.8 is N34 billion lower than the 2022 appropriation of N267,9 billion is aimed at completing all ongoing projects in the state in the 2023.fiscal year.
“The a totaludget like the 2022 Budget shall be based on the Federal Government Fiscal forecast for 2023 to 2025 Medium Term Expenditure Framework which is already domesticated for the first time in the State through your support recently. The 2023 Budget shall therefore be facilitated by enhanced Internally Generated Revenue (IGR) as projected”, Governor Zulum said.
The Governor further said ” the ratio of 22% and expected rise of local Revenue Collection as a result of sustenance and continues enforcement of payment of Ground Rent, and improving revenue generation of up to 25% annually, Proposed crude oil price benchmark of US $75/barrel and a daily production of 1.5 million barrels/daily.
And a projected National Inflation rate og 13.10% and National Real GDP growth rate of 3.10% and a proposed Exchange Rate of N415/$
Sectoral allocations, indicates that ministry for Finance has the lion share with the sum of N30. 3 billion followed by education with N28.2 billion, works N25 billion, and ministry of Health and Human services with N19.9.
He expressed his appreciation to West end round about the House for their cooperation and support and urged them go give the 2923 Appropriation Bill accelerated consideration and passage.
He said the N30 billion allocation was to enable the state government paid outstanding pension and gratuity of civil servant in the state, while N25 is projected for the construction of two flyovers at the Borno Express junction and West End found about and other roads across the state.
Responding, the Speaker, Borno state House of Assembly, Rt Hon. Abdulkareem Lawan welcome the governor to the House for the presentation of 2023 budget for the 2923 fiscal year.
” Having listened to your presentation of 2023 budget at the floor of the House, which captured all needs of the people of Borno state and your achievements in the 2022 budget, I want to assured you that the House will give accelerated consideration and passage to the bill”, Lawan said.
He also use the opportunity to call on the members of the Borno state Executive Council and heads of agencies and parenteral to cooperate with the House standing committees for the budget defence and quick passage of the bill.