Bauchi Gov. presents N202bn 2023 budget to Bauchi state assembly

He said N114 billion capital expenditure of the budget represents 57 per cent, while N87 billion for recurrent expenditure, represents 43 per cent.

Mohammed said that the budget was 2.6 per cent higher than the 2022 figure of N195.3 billion.

The governor said that the 2023 budget was increased in line with current economic realities, especially, the rising inflationary trend.

“The sum of N125 billion is estimated as recurrent revenue and this is made up of Internally Generated Revenue of N22 billion, Statutory allocation of N61 billion and Valued Added Tax of N35 billion.

“Personnel cost is N41 billion, Overhead cost is N46 billion and it is projected that the state would realize capital receipt in the sum of N67 billion from Internal and external loans; N17 billion and N10 billion in Aids and Grants,” he said.

While appraising the performance of 2022 budget, Mohammed said that the budget has achieved about 58 per cent implementation so far, adding that it would attain 85 per cent implementation at the end of the fiscal year.

He, however, solicited for the continuous support of the lawmakers towards the development of the state.

Responding, the Speaker, Alhaji Abubakar Suleiman, assured of speedy passage of the budget.

The News Agency of Nigeria (NAN) reports that the bill was adopted and passed through a second reading immediately.