Gov. Idris Presents N250.1bn 2024 Budget to Legislative
Gov. Nasir Idris of Kebbi, on Wednesday, presented a budget proposal of N250.1 billion for the 2024 fiscal year to the state House of Assembly.
Presenting the budget, Idris, said that out of the amount N90.6 billion was earmarked for recurrent expenditure while N159.4 billion was for capital expenditures.
He added that the recurrent expenditure figures were broken down to Personnel costs of N35.9 billion while overhead costs was N54.6 billion.
“The proposed budget which is termed Budget of Infrastructural Development and People Empowerment is in the sum of N250, 134,091,757 only.
“Of the proposed revenues, Statutory Allocation coming from the Federation account are estimate in the sum of N79.2 billion. Internally Generated Revenues are estimated in the sum of N18.3 billion,” he said.
Idris explained that the budget was hinged on indices that were cautiously optimistic as the government recognised that the country’s economy was not completely out of the woods.
“Oil prices are benchmarked at $74 US dollars per barrel with an exchange rate of N750 to 1 US dollar. Inflation is estimated to be at 21.40 per cent,” he said.
The governor further said that the budget proposal was guided by the strategic objectives of the State Development Plan 2022- 2027, which the government would revise to a 10 – year plan from 2024 – 2034.
“That plan will improve governance by focusing on institutional reforms through accountability, rule of law, transparency and efficiency budget, delivers quality social service delivery to the citizens.
“This budget is also one fit for the present just as it prepares us for the future.
” This is a budget that meets our challenges. This is a budget that guarantees opportunities in the face of difficulties and challenges. This is a budget to grow the economy and spread prosperity.
“This is a budget fit for purpose and fit for all citizens of Kebbi. I present it to this house for its consideration and speedy passage,” he said.
Idris said that the budget was aimed to improve the livelihood of youths and women in an inclusive manner through job creation and social economic empowerment that delivered social progress and transformation.
“This budget also aims to enhance agriculture and mineral resource productivity through access to improve technologies, finance and services to increase income generation and provide food security and poverty reduction,” he said.
The governor thanked the House for the harmonious working relationship that existed between the Executive and the Legislature over the last six months.
In his remarks, the Speaker of the assembly, Alhaji Usman Muhammad-Ankwai, assured that the lawmakers would ensure thorough scrutiny and speedy passage of the budget.
He also assured that the legislative would ensure sustained cordial working relationship with other arms of government in the state. Fitch Flags Nigeria’s FX Reserves for Transparency Issue
