From Segun Babatunde in Bauchi
Bauchi State Government has proposed to spend the sum of N195,355,607,143 :00 for Capital and Recurrent services during the 2022 fiscal year.
This is comprising of Recurrent Expenditure of N8 4,375,180,518 :00 or 43 % while Capital Expenditure received the sum of N110,620,426,625 :00 or 57 %.
While presenting the budget proposal to the State House of Assembly on Thursday, the state Governor, Senator Bala Abdulkadir Mohammed said that The 2022 proposed Budget is 8.5 % lower than that of this year.
According to him, “The reduction was arrived at in order to align government’s projections with the current economic realities especially related to the ability to meet anticipated revenues explaining that the conservative approach was adopted to ensure that projects and programmes captured are implemented.
The Governor added that the process of the preparation of the budget has been all inclusive saying, “Budget Public Hearings were conducted in the three Senatorial Districts where input s from Stakeholders were elicit ed and incorporated into the Budget” .
The sum of N 100,893,132,559.25 is estimated as Recurrent Revenue made up of Internally Generated Revenue N24,494,940 , 253; Statutory Allocation N66,938,107 , 748; VAT N15,608,321 , 097 toralling N107,541 ,369,098.
According to the Governor, Recurrent Expenditure Estimates is a total sum of N84,735,180 , 519 is earmarked for Recurrent Expenditure made up of
Personnel Cost N37,004,732 ,2 26 and Overhead Cost of N47,730,448 , 292 totaling N8 4,735,180 , 519.
He also disclosed that It is projected that the State will realize Capital Receipts in the sum of N 71,926,293,537 in the areas: Loans (Internal & External) N37,359,24 4 , 994; Aids and Grants N27,035 ,467 , 936; Other Capital Receipts N7,531 ,580 , 607 totaling the sum of N71,926,293,537.
Proposed Capital Expenditure is the sum of N 110,620,426,625 in the ADMINISTRATIVE SECTOR N7,485 ,890 , 598; ECONOMIC SECTOR N57,074,81 4 , 525; LAW AND JUSTICE SECTOR N1,86 0,0 00,000; REGIONAL SECTOR N13,967, 62 6 , 982 and SOCIAL SECTOR N30,232,094 , 520 making a total of N110 ,620,426 , 625.
The Governor assured that the government will not embark on new project during the 2022 fiscal year unless it becomes absolutely necessary stressing that the focus of the budget is to complete all on going projects across the state.
Mohammed then solicited the continuous support and cooperation of this House as usual in the efforts of his administration towards the development of the State and in improving the lives of its citizens .
He said, “Finally, Mr. Speaker, Honourable Members, I wish to appreciate your rapt attention to the presentation of the 2022 Budget which I tag the ‘ BUDGET OF CONSOLIDATION and CONTINUOUS COMMITMENT ’ . I wish to appeal to the Honourable House to expedite action towards passing the Budget into law to enable Government implement the programmes and projects that will have significant impact on our people” .