By Inusa Ndahi
Governor Babagana Zulum of Borno State, yesterday, proposed about N267.921billion for the 2022 fiscal year made up of N172,535,634,000 for capital expenditure and N95,385,850,000 for recurrent expenditure.
The education sector got the lion share of N38,069,877,000, while Ministry for Local Government and Emirate Affairs got the least share of N408,276,000.
The amount represents 20.22 percent of the budget, which comprises N11,602,110,000 for Education Ministry, N13,933,224,000, for Higher Education, N18,533,600,000, for State Universal Basic Education and N4,666,800 for Borno Teaching Service Board.
The budget tagged, “Hope for Post-Conflict Stability” is made up of 65 percent for capital projects, while recurrent expenditures got 35 percent, which is to be financed from Recurrent Revenue of N113,535,634,000 for capital expenditure.
READ ALSO: Gov Zulum presents N267bn 2022 budget for Borno
“This will comprise FAAC Revenue of N48,215,985,000, Internally Generated Revenue (IGR) of N34,534,704,000, Value Added Tax (VAT) of N20,716,973,000, and other Federation Account sources of N10,372,239,000 billion respectively, in addition to N154,081,583,000 comprising loans and grants to be financed by Capital Receipts,” he said.
Presenting the appropriation Bill to the Speaker, Mr. Abdulkarim Lawan and other lawmakers on the floor of the Assembly, Zulum said, the budget would be financed from the statutory allocation and improved internally generated revenue.
He said, the 2022 budget which is higher than that of the 2021 (248 billion) with slight difference of about N19.921 billion is “aimed at accelerating the ongoing reconstruction of destroyed communities for safe and dignified resettlement, provision of livelihoods and social support to citizens, ensuring the completion of ongoing projects and achieve 20 key deliverables.”
Responding, the Speaker, Lawan applauded the governor for executing numerous people oriented projects, and for maintaining a cordial relationship with the legislature which has led to transparency, accountability and good governance.
He pledged that the House would look into the budget, deliberate on it with a view to ensure its speedy passage into law for the betterment of the people of the state.
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