Borno: Governor Zulum presents N340b budget, vows to leave no debt for successor
Borno State Governor, Babagana Umara Zulum, on Wednesday, presented a budget of N340 billion for the 2024 fiscal year from which Health, Education and works received major allocations.
Health was allocated N51b, Education N39b, while N45b was allocated to Works and Housing.
Tagged “Budget of Consolidation and Progress” a total of N198,293,223,000 was allocated for capital expenditure while N142,326,613,000.00 was allocated for recurrent expenditure.
The budget, Zulum noted, will be financed from the recurrent revenue of N206,803,053,000.00 which comprises FAAC revenue and Internally Generated Revenue (IGR) and capital receipts of N128,816,783,000.00, comprising of Aid and Grant as well as capital development funds.
According to the sectoral allocations, the Ministry of Finance got N53b allocated for its capital and recurrent expenditures including debt servicing, salary payment and gratuities to the retirees.
Other sectors like the Ministry of Agriculture got N13b, Ministry of Reconstruction, Rehabilitation and Resettlement got N20b, Ministry of Water Resources got N9.7b and Ministry of Information and Internal Security got N9.6b.
Various amounts were allocated to all other sectors as well.
Speaker of Borno State House of Assembly, Abdulkarim Lawan, commended Governor Zulum for his achievements over the years.
He assured the Governor of the State Assembly’s resolve and commitment to pass the appropriation bill on time.
Meanwhile, Governor Babagana Umara Zulum has promised to ensure that whoever is to succeed him will not be inheriting debts owed by the state government.
Zulum said he plans to clear all debts before the end of the ongoing second term.
“As we are gradually exiting from office, I plan to ensure that, insha’Allah, I’ll leave a clean slate to the incoming administration. I want to ensure that we pay all debts so that anybody who is taking over from me will have a clean slate to begin. May Almighty in his mercy, help us”, Zulum said.
