Borno State Governor, Professor Babagana Umara Zulum, has unveiled a proposed budget of ₦584.76 billion for the 2025 fiscal year, aptly titled the "Budget of Recovery and Continuity."
This ambitious financial plan is designed to consolidate the state's developmental progress, with a strong focus on health, education, and economic recovery.
In a statement released by Dauda Iliya, the Special Adviser to the Borno State Governor on Media, it was detailed that the budget comprises a Capital Expenditure of ₦380.84 billion and a Recurrent Expenditure of ₦203.92 billion.
The funding sources include Recurrent Revenue from the Federation Account Allocation Committee (FAAC) amounting to ₦311.70 billion, Internally Generated Revenue (IGR) of ₦30.09 billion, and Capital Receipts of ₦237.96 billion, which encompass aid, grants, and the Capital Development Fund.
Governor Zulum emphasized the importance of this budget in fostering recovery and resilience across the state. "We are committed to supporting initiatives that will strengthen recovery, continuity, and resilience in Borno State, ensuring a stable and prosperous future for our citizens," he stated.
A significant portion of the budget, ₦89.97 billion or 15.39% of the total, is allocated to the health sector, showing the administration's commitment to improving healthcare services. Additionally, investments in security, infrastructure, and social services are prioritized to enhance public welfare and sustain development.
The Speaker of the Borno State House of Assembly, Abdulkarim Lawan, announced the passage of 12 laws aimed at promoting good governance and positively impacting the lives of the state's residents.
Comments