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From John Adams, Minna
The Niger State Governor, Alhaji Abubakar Sani Bello, has presented a budget estimate of N238.9billion billion to the state House of Assembly for consideration for the 2023 fiscal year.
This figure is higher than the 2022 Budget estimate of N225.1 billion, representing 2.96 per cent.
Presenting the budget before the state House of Assembly in Minna on Tuesday, the governor said the 2023 Budget Proposal is made up N91.0 billion, representing 38.11 per cent of the expected total revenue as recurrent expenditure, while N147.8 billion representing 61.89 per cent is being proposed for capital expenditure.
The governor pointed out that the N91.0billion which is earmarked as recurrent expenditure for the 2023 financial year, saw an increase of N2.5billion, representing 1.42 per cent higher than the 2022 recurrent expenditures of N88.4billion “as a result of envisage employment”.
Consequently, the governor disclosed that the N147.8billion earmarked for capital expenditures in this year’s budget, also saw an increase of 3.94 per cent higher than the 2022 Budget which stood at N136.6billion.
He pointed out that the capital expenditures will be financed through recurrent surplus of N32.4billion and Capital Receipts of N115.4billon.
According to the governor, the 2023 budget which is tagged, “budget of Consolidation and Transition” is aimed at “completing projects that are at advanced stages, increase internal revenue generation, maximization of our potentials and encouragement of private sector participation in the development of the State”.
He stated further that this year’s budget will therefore be focusing on Security, Agriculture, Infrastructural Development, Education, Health, Water, Sanitation and Hygiene, Investment Promotion, Environmental Sustainability, Women, Youth and People with Special Needs.
The entire 2023 budget will be financed through Statutory Allocation of N61.0billon representing 25.57 per cent, Value Added Tax (VAT) of N35.6billion or 14.90 per cent, Internally Generated Revenue (IGR) of N22.5 billion, Excess Crude/Other Revenue of N4.2 billion or 1.78 per cent and Capital Receipts of N115.4 billion, representing 48.30 per cent.
