Gov Zulum presents N340.5 billion budget for 2024.
Borno State Governor Babagana Zulum has presented a N340.5 billion budget for 2024 to the state’s House of Assembly.
The budget comprises N198.2 billion capital expenditure and N142.3 billion recurrent.
Zulum said the proposal would be financed from recurrent revenue of N206.8 billion made up of federal allocation and internally generated revenue.
His words: “The budget will also be financed by capital receipts of N128.8 billion, comprising of aids and grants as well as capital development funds.
“The projection of the 2024 budget is predicated on the Federal Government’s fiscal forecast for the 2024-2026 Medium Term Expenditure Framework.
“The internally-generated revenue forecast was adopted with some indications to reflect on the current realities within our purview.’’
The governor lauded the state Legislative for its sustained support and urged the members to fast-track the passage of the budget.
A breakdown of the budget showed that the Ministry of Finance and Economic Development has the lion’s share of N53.8 billion followed by Health with N51.1 billion.
Ministry of Works got N45.4 billion, while Education got N39.4 billion.
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