Bauchi Governor Presents N135.3billion Budget Proposal to NASS

The Bauchi State Governor Mohammed Abdullahi Abubakar of Bauchi presented a budget proposal of N135. 3billion for the 2016 fiscal year to the State House of Assembly.

The Governor, while presenting the budget proposal to the Bauchi State House of Assembly complex on Wednesday, January 6, said the budget was made up of N65, 498, 008, 456 as recurrent expenditure, and N69, 805, 091, 554 as capital expenditure.

He gave a recurrent estimate of the budget as N67, 136, 820, 593 for recurrent revenue.
According the Governor, the estimate of the budget is made up of Internally Generated Revenue of N9, 998, 136, 773 and statutory allocation of N57, 138, 683, 820.

Governor Abubakar also gave the budget’s recurrent expenditure of a total sum of N65, 498, 008, 456 comprising of personnel cost of N25, 182, 118, 675; Overhead cost N23, 745, 885, 004; consolidated revenue fund charges of N16, 570, 004, 777.

According to him, the consolidated revenue fund charges comprised of Pension and Gratuity N8.5 billion; Public Debt Charges/Debt Services N7.02billion; and Public Officers’ Salary of N1.04 billion.

The Governor said it is projected that Bauchi state will realize capital receipts in the sum of N57, 714, 770, 077 comprising of opening balance N250 million and internal loans N21, 600, 000, 000; External loans N7, 774, 261, 216; Grants and Aids N9, 993, 223, 164; and Other capital receipts/local Govt. Joint Project N18. 097, 285, 697.

The Budget capital expenditure breakdown is Administrative sector N5.4 billion; Economic sector N30.5 billion; Law and Justice Sector N1.9 billion; Regional sector N3.3billion, and social sector N28.5billion, giving a total of N69, 805, 091, 554.

He explained that the present administration came into power at a difficult time when the economy was at the brink of total collapse with public treasuries at all levels of government empty, high level of corruption, and insecurity of lives and property nationwide.