Governor Muhammed Umaru Bago of Niger State has presented the 2024 Appropriation budget, totaling N613,274,081,698.17, to the State House of Assembly. The budget, aptly named “The Budget of the Future,” serves as a strategic guide towards realizing the state’s shared vision for prosperity.
Breaking down the budget composition, Governor Bago highlighted that N149,217,969,152.00 (24.33%) is allocated to recurrent expenditure, while N464,056,832,546.60 (75.67%) is earmarked for capital estimates. The funding structure involves N298,052,655,520.00 from recurrent revenue, encompassing statutory allocation, value-added tax, internally generated revenue, excess crude/other revenue, and SURE-P refund.
Capital receipts of N315,322,146,178.00, derived from loans and grants, further contribute to financing the budget. Notably, the proposed 2024 budget aligns with the Economic and Fiscal Update (EFU), Fiscal Strategy Paper (FSP), and Budget Statement (BPS) of 2024–2026, as passed by the State Assembly.
Governor Bago emphasized that the budget is a crucial roadmap, steering the state towards sustainable development and growth. The Speaker of the Assembly, Abdulmalik Sarkindaji, commended the collaborative spirit between the House and the Executive, assuring a thorough legislative review for a prompt passage before December 27, 2023. The budget presentation reflects the governor’s extensive experience gained during his tenure at the National Assembly.
