Home Business & Economy Bauchi: Governor Bala Mohammed presents budget of N167 billion for 2020

Bauchi: Governor Bala Mohammed presents budget of N167 billion for 2020

SELYA YARNAP, Bauchi

Bauchi State Governor Bala Abdulkadir Mohammed has presented a budget of N167, 215,807,500 billion for the 2020 fiscal year to the state House of Assembly on Tuesday.

Presenting the appropriation bill tagged “Budget of Renewal of Hope”, the Governor said N 72, 615, 397,214billion, representing 43 per cent, was for recurrent expenditure.

He also said N94,600,410,286 billion, representing 57 per cent, was for capital expenditure and  the sum of N102, 474, 311, 276 is estimated as recurrent revenue.

The Governor gave a breakdown of the recurrent revenue as N21, 861, 924, 840 as internally generated revenue while statutory allocation takes N80, 612, 386, 436.

He said the recurrent expenditure estimates breakdown stood at N29, 537, 346, 320 as personnel cost, overhead cost is N21, 816, 145, 210 while consolidated revenue fund charges takes N21, 216, 905, 684.

According to him, consolidated revenue fund is made up of Pension and Gratuity N8, 739, 563, 043, Public debt charges/debt servicing N11, 714, 160, 603 and public officers’ salary of N808, 182, 038.

He stated Capital receipts projection is made up of opening balance N400, 000, 000; Internal loans N17, 210, 000, 000; External loans N20, 248, 567, 747.

Capital expenditure sectoral allocation is Administration N7, 656, 945, 456; Economic N49, 793, 970, 144; Law and Justice N1, 682, 300, 000 and Social N35, 467, 194, 686.

On education sector, the Governor said  it has  takes lion share of N11, 594, 817, 073 followed by health sector with N6, 914, 654, 312, and Ministries of Justice and Agriculture, N2, 987, 353, 153 and N2, 135, 248, 911, respectively

He said that this year’s budget proposal was lower than previous years not because government doesn’t intend to spend much, but because it wants to get it right by proposing a budget that is implementable.

The governor then appealed to all loving citizens of the state to continue to live in peace with one another and respect constituted authorities, saying without peace, no society will develop in the world.

For a better society

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