Governor Mohammed Abdullahi Abubakar of Bauchi State on Tuesday presented a budget proposal of N135. 3 billion for 2016 to the State House of Assembly for approval.
The budget is made up of N65, 498, 008, 456 as recurrent expenditure, and N69, 805, 091, 554 as capital expenditure.
Presenting the proposal, Mr. Abubakar gave estimated revenues to include Internally Generated Revenue of N9, 998, 136, 773 and statutory allocation of N57, 138, 683, 820, making a total of N67, 136, 820, 593.
The budget also comprises personnel cost of N25, 182, 118, 675; Overhead cost of N23, 745, 885, 004; and consolidated revenue fund charges of N16, 570, 004, 777.
According to Mr. Abubakar, the consolidated revenue fund charges comprises of Pension and Gratuity, N8.5 billion; Public Debt Charges/Debt Services, N7.02billion; and Public Officers’ Salary of N1.04 billion.
Mr. Abubakar said his government expects that Bauchi state will realize capital receipts 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.
Per sector, the budget assigns N5.4 billion to administration; N30.5 billion for the economy; N1.9 billion for law and justice N1.9 billion; N3.3billion for the region, and N28.5 billion to the social sector.
The governor said 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.
Mr. Mohammed appealed to the lawmakers to expedite action, consider and pass the 2016 budget into law to enable the government implement the budgeted programmes/projects to meet the yearnings and aspirations of the electorates.
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