On Tuesday, the honorable Umar Bago, Governor of Niger State, put forth a proposed budget totaling N613,274,081,698.17 for the fiscal year 2024 in front of the State House of Assembly.
The budget is divided into recurrent expenditure of N149,217,969,152.00 (24.33%) and capital estimate of N464,056,832,546.60 (75.67%).
The governor outlined that the budget’s funding sources include recurrent revenue of N298,052,655,520.00, comprising 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), and SURE-P refund (N20,000,000,000.00).
Additionally, the budget will be supported by capital receipts of N315,322,146,178.00, consisting of loans (N256,459,074,825.00) and grants (N58,763,071,353.00). Governor Bago emphasized the significance of the 2024 budget, naming it “the budget of the future.”
He highlighted that a substantial 75.67% of the budget, amounting to N464,056,832,546.60, is allocated to capital expenditure.
In the sectoral breakdown, the education sector receives N76,276,508,605.59 (14.55%) for the construction of 95 schools and 6 mega model schools in Suleja, Minna, Bosso, Bida, and Kontagora.
The health sector is allotted N42.7 billion (6.9%) for the development of 35 Primary Health Care centers across the 25 local government areas.
Governor Bago called for cooperation and understanding, stating that the budget lays the foundation for a prosperous future.
He said “In the first quarter of 2024, we will launch our long-term, medium-term, and all our sectoral plans. All hands, must be on deck to ensure we succeed”.
He announced plans to launch long-term, medium-term, and sectoral plans in the first quarter of 2024, urging collective efforts for success.
In response, the Speaker of the State House of Assembly, Rt. Hon., assured that the budget would undergo thorough scrutiny and be passed within a week.
He emphasized the December 27, 2023, deadline and called on all ministries, departments, and agencies to adhere to the timetable for appearances before House Committees.
