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Governor Babagana Zulum has presented a N584.76 billion budget for the 2025 fiscal year to the Borno State House of Assembly. According to him, the appropriation bill increased by 15.4 per cent over this outgoing year’s budget of N360 billion.
Presenting the proposals, yesterday, in Maiduguri, the governor disclosed: “All the capital projects that reached 60 per cent completion will be commissioned in the first quarter of next year.”
Additionally, he said the internally generated revenue (IGR) had increased from N25 billion to N30 billion. Tagged: “Budget of Recovery and Continuity,” the appropriation aims at consolidating the state’s economic growth and development.
Zulum went on: “Out of the total budget proposal of N585 billion, capital expenditure was earmarked N380 billion or 65 per cent, while recurrent expenditure stood at N203 billion.
“We’ll finance it through recurrent revenues from the Federation Account Allocation Committee (FAAC) of N311.7 billion, N30.1 billion IGR, and capital receipts of N237.96 billion, comprising aid, grants and a capital development fund.”
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