Zulum presents N234.8b budget to Borno Assembly
Governor Babagana Zulum of Borno State has presented N234 billion budget to the House of Assembly for the 2023 fiscal year.
According to him, all ongoing projects for 2022 will be completed next year, while implementing the budget by Ministries, Departments and Agencies (MDAs).
Tagged ‘Budget of Continuity for Sustainability’, the 2023 budget is lower by 12.31 per cent from the N270 billion of 2022.
Presenting the budget, yesterday, in Maiduguri, the Governor disclosed that capital projects got N144.2 billion, while recurrent expenditure got N90.66 billion.
On the financing, he said: “The implementation of this budget will be financed from the recurrent revenues of N137.85 billion, comprising the Federal Allocation of N67.98 billion.”
Internally Generated Revenue (IGR) of N33.2 billion and the Value Added Tax (VAT) revenue of N30.2 billion will also help in financing the budget.
Receiving the document, the Speaker, Abdulkarim Lawan, assured the Governor that the 28-member house would accelerate passage of the budget.