Mohammed promised members that the plan will be completely executed when he presented it on Wednesday in Bauchi under the heading “Budget of Accomplishment and Renewed Commitment.” According to him, the budget’s capital expenditures, at N114 billion, account for 57{d38a898658503095d09ccca72b3373e8fa824aa4f0215737cc70c89fc7ca3936} of the total, while recurrent expenses, at N87 billion, account for 43{d38a898658503095d09ccca72b3373e8fa824aa4f0215737cc70c89fc7ca3936}.
According to Mohammed, the budget was N195.3 billion (2.6{d38a898658503095d09ccca72b3373e8fa824aa4f0215737cc70c89fc7ca3936}) more than in 2022. The governor claimed that the 2023 plan had been adjusted to reflect the reality of the economy at the time, particularly the high inflation trend.
The Bauchi state House of Assembly has been submitted with a N202 billion budget by Governor Bala Mohammed for approval in 2023.
Recurring income is anticipated to total N125 billion and is composed of N35 billion in value added tax, N61 billion in statutory allocations, and N22 billion in internally generated revenue.
Mohammed stated that the 2022 budget has so far been implemented at a rate of roughly 58{d38a898658503095d09ccca72b3373e8fa824aa4f0215737cc70c89fc7ca3936} and that by the conclusion of the fiscal year, it will have been implemented at a rate of 85{d38a898658503095d09ccca72b3373e8fa824aa4f0215737cc70c89fc7ca3936}.
According to projections, the state will receive capital receipts of N67 billion from both internal and external loans, N17 billion, and N10 billion in aids and grants, while personnel costs are N41 billion, overhead costs are N46 billion.
Alhaji Abubakar Suleiman, the Speaker, responded by promising quick approval of the bill.
According to the News Agency of Nigeria (NAN), the measure was quickly adopted and carried through a 2nd reading. (NAN)
