From Jude Owuamanam, Jos
Plateau State Governor Caleb Mutfwang has presented a budget estimate of N295,434,568,464.00 to the State House of Assembly.
The budget estimate, tagged “The Budget of New Beginnings” is higher than the 2023 budget of N149,951,334,591.00 billion, representing a N145,483,233,873.00 increase.
The amount consists of a recurrent component of N157,563,316,462.00 representing 53.33% of the total
budget size and capital estimate of N137,871,251,992.00, representing 46.66% of the total budget estimate.
The governor, while presenting the budget, said it’s is aimed at laying a solid foundation for the Peace and Prosperity of Plateau State.
Mutfwang said that the budget will lay emphasis on good governance, peace, security and justice, revamping agricultural transformation, education and human capital development, public health, environment and mineral development, infrastructure and industrialisation and taxation/Resource mobilisation
He said, “The vision and mission of the present administration is to intervene in the area of security, Agriculture, human capital development, public health, industrialisation and aggressive revenue generation.
“The Budget of New Beginnings” has a total budget size of Two Hundred and Ninety-Five Billion, Four Hundred and Thirty-Four Million, Five Hundred and Sixty-Eight Thousand, Four Hundred and Sixty-Four Naira only (N295,434,568,464.00).
This amount consists of a recurrent component of One Hundred and Fifty-Seven Billion, Five Hundred and
Sixty-Three Million, Three Hundred and Sixteen Thousand, Four Hundred and Sixty-Two Naira only (N157,563,316,462.00) representing 53.33% of the total budget size and capital estimate of One Hundred and Thirty-Seven Billion, Eight Hundred and Seventy-One Million, Two Hundred and Fifty-One Thousand, Nine Hundred and Ninety-Two Naira only (N137,871,251,992.00), representing 46.66% of the total budget estimate.
“The total budget size shows an increase of One Hundred and Forty-Five Billion, Four Hundred and Eighty-Three Million, Two Hundred and Thirty-Three Thousand, Eight Hundred and Seventy-Three Naira only (N145,483,233,873.00), over the 2023 approved budget.
“In the 2024 fiscal year, government is projecting the sum of Two Hundred and Ninety-Five Billion, Four Hundred and Thirty-Four Million, Five Hundred and Sixty-Eight Thousand, Four Hundred and Sixty-Four Naira only (N295,434,568,464.00), to be generated from the following sources:
“Internally Generated Revenue (IGR). Thirty-Eight Billion, Three Hundred and Sixty Million, Eight Hundred and Seventy-Four Thousand, Nine Hundred and Thirty-One Naira (N38,360,874,931.00) only.
“Government share of FAAC. N151,424,566,079.00, Capital receipt of N105,649,127,454
“The recurrent expenditure in the 2024 budget estimate is N157,563,316,472.00. The amount is to enable government finance the following:
i. Personnel cost. Fifty Billion, Nine Hundred and Sixty-Six Million, Four Hundred and Ninety-Seven Thousand, Six Hundred and Sixty-Five Naira only (N50,966,497,665.00).
ii. Other recurrent cost. One Hundred and Six Billion, Five Hundred and Ninety-Six Million, Eight Hundred and Eighteen Thousand, Eight Hundred and Seven Naira only (N106,596,818,807.00).
On capital expenditures, the governor said the present administration intends to embark on the implementation of critical projects that have direct bearing on the lives of citizens.