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From Timothy Olanrewaju, Maiduguri
Borno State Governor, Babagana Zulum, has signed into law N269.7 billion budgeted for 2022 fiscal year.
He signed the appropriation and financial bill on Monday in Maiduguri, the state capital.
He explained the budget consists capital expenditures of N172.53 billion and recurrent spending amounting to N95.4 billion.
“This year’s appropriation bill will be financed from recurrent revenues of N113.84 billion, comprising N48.22 billion statutory allocations, N34.53 billion IGR and N20.72 Value Added Tax (VAT).”
Be assured of his readiness to implement the budget within the framework of the law guiding budget and fiscal responsibility
Speaker of the House of Assembly, Abdulkarim Lawan, while presenting the budget for the governor’s assent, said the committee on appropriation in consultations with various ministries, departments and agencies (MDAs), adjusted the budget size.
He disclosed that the 2022 budget was increased from N268 billion presented to the house by the governor late December to N269.7 billion, an increase of N1.7 billion or 0.63 percent.
He said the budget adjustments were made to capture five areas of the appropriation bill for signing into law.
