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From Olanrewaju Lawal, Birnin Kebbi
Kebbi State Governor Abubakar Atiku Bagudu has presented the sum of N166.98 billion as the 2023 budget before the House of Assembly.
Bagudu who tagged the budget, ‘budget of enduring legacies’, said the appropriation bill is a path to a renewed and reinvigorated economy as the state begins a new journey post-COVID-19.
According to him,” this 2023 Budget of Enduring Legacies is hinged on indices that are cautiously optimistic as we recognise that the Nigerian economy as a whole is not completely out of the woods. Oil prices are benchmarked at $60.74 per barrel with an exchange rate of N411 to 1 US dollar. Inflation is estimated to be at 16.63%.
“The proposed 2023 Kebbi State Budget of Enduring Legacies is in the sum of N 166,985,075,110 only. Of the proposed revenues, Statutory Allocation coming from the Federation Account is estimated in the sum of N48,377,123,339. Internally Generated Revenues are estimated in the sum of N10,186,764,165.
“Of that figure, Recurrent Expenditure accounts for N60,465,905,016. The recurrent expenditure figures are broken down to Personnel Costs of N29,964,745,524, while overhead costs are N30,501,159,491.
“Capital Expenditures are in the sum of 106,519,170,093. The 2023 budget is guided by the strategic objectives of the State Development Plan 2022-2027, which are improving governance towards focusing on institutions through accountability, rule of law, transparency and efficiency that delivers quality social service delivery to Kebbi State citizens,” he said.
Governor Bagudu added that the budget also aims to enhance agriculture and mineral resource productivity through access to improved technologies, finance and services to increase income generation and provide food security and poverty reduction.
He said: “It also aims to improve the livelihood of youths and Women in an inclusive manner through job creation and social economic empowerment that delivers social progress and transformation. In the next year, we will spend in excess of 5 billion naira towards social interventions, human capital development and helping the poor and vulnerable,” he added.
