Governor Mai Mala Buni of Yobe State has presented a budget of N217 billion to the State House of Assembly for consideration of 2024 fiscal year.
A total sum of One Hundred and Sixty-Three Billion, Five Million, Three Hundred and Sixty-Six Thousand Naira (N163,005,366.000.00) was approved to cater for both capital and recurrent expenditure of the 2023 fiscal year.
But the State governor during 2024 budget presentation said the actual receipts that accrued into the coffers of the state from the Federation Account Allocation, Internally Generated Revenue and other sources including the Opening Balance covering the period of January to September 2023 stood at One Hundred and Thirteen Billion, Fifty-Eight Million, One Hundred and Two Thousand, Five Hundred and Thirty-Nine Naira (N113,058,102,539) translating to 69.4% of the approved budget.
Buni who presented the 2024 budget tagged “Budget of Consolidation and Economic Recovery” said it is for capital, recurrent, overhead and personnel costs.
He said out of the amount, the total sum of Ninety-Four Billion, One Hundred and Fifty-Six Million Naira (N94,156,000,000) representing 43.39% is proposed as recurrent expenditure.
He added that the total sum of One Hundred and Twenty-Two Billion, Eight Hundred and Forty-four million Naira only (N122,844,000,000) representing 56.61% is allocated for capital expenditure.
He added that to stimulate economic growth, government would ensure the completion of Potiskum and Geidam Modern Markets, Potiskum Trailer Park, Damaturu Mega Shopping Mall as well as for the rehabilitation, upgrading and capitalization of all the Government-owned Companies, completion of the Sesame Seeds Processing and Packaging factories in Damaturu, Potiskum, Machina and Nguru towns, renovation of Ministry of Commerce Zonal offices and Gogaram Chalets.