Yobe State Governor, Mai Mala Buni, has disclosed that his administration plans to spend the sum of N163,155,366,000 for 2023 fiscal year.
Buni made the disclosure on Thursday while presenting the 2023 finance and appropriation bills before the State House of Assembly in pursuance of section 121, sub-section (1) 2 of the 1999 Constitution of the federal Republic of Nigeria as amended.
Tagged budget of, “THE BUDGET OF CONTINUITY, CONSOLIDATION AND ECONOMIC TRANSFORMATION”, the governor the budget estimate is 0.49% decrease compared to that of 2022.
“Recurrent expenditure is to gulp Eighty-seven Billion, Eight Hundred Million, Seven Hundred and Seventeen Thousand Naira (N87,800,717,000) representing 57%. The sum of Seventy-five Billion, Three Hundred and Fifty-four Million, Six Hundred and Forty-nine Thousand Naira (N75,354,649,000) representing 43% is earmarked for capital expenditure”, he explained.
According to Buni the 2023 budget will dwell on completion of ongoing projects in pursuance of Government’s post-insurgency recovery and speedy socio-economic development programme.
While reviewing the 2022 budget performance, the governor told the legislators that a total sum of N163,953,384,000 was approved to cater for both capital and recurrent expenditures in the 2022 budget.
“The actual revenue receipts from the Federation Account Allocation, Internally Generated Revenue, and other sources including the Opening balance covering the period of January to September 2022 stood at One Hundred and One Billion, Seven Hundred and Twenty-seven Million, Thirty-one Thousand, Eight Hundred and Eighty-nine Naira (N101,727,031,889) representing 62% of the approved budget.
“The recurrent expenditure gulped the sum of seventy-six billion, three hundred and nine million, two hundred and thirty-two thousand, nine hundred and nine naira (N76,309,232,909), while a total sum of one hundred billion, six hundred and seventy-two million, nine hundred and forty-five thousand, nine hundred and fifty-one naira (N100,672,945,951) was expended representing 75.8% performance.
“Furthermore, a total sum of fifty seven billion, ninety-three million, seven hundred and forty-one thousand Naira (N57,093,741,000) was earmarked for capital expenditure, out of which twenty-four billion, three hundred and sixty-three million, seven hundred and thirteen thousand, forty-two Naira (N24,363,713,042) was expended illustrating 24.2% performance”, he said.
According to him, the global recession has negatively affected the total revenue receipts by the state government thereby reducing our funding capacity and overall performance on the 2022 budget. “We, however, anticipate an increase in the performance before the current fiscal year runs out”.