Shettima presents N170bn budget for 2018

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Gov. Kashim Shettima of Borno on Thursday presented N170.2 billion Appropriation Bill for 2018 fiscal year to the State House of Assembly.

‎Shettima said the bill tagged: “Budget of Resettlement and Empowerment”, was less than that of 2017 by N13. 560 billion or 7.38 per cent.

He explained that the capital expenditure was allocated N108,408,580 billion while recurrent vote got N61,870,934 billion.

‎Shettima disclosed that the budget would be financed from projected Internally Generated Revenue ( IGR ) of N16,075,548 billion; allocation from the Federation Account of N115,734,194 billion, and Capital Receipt of N38,469,772 billion.

Major highlights of the budget showed that education got the highest allocation of N27 billion.

Breaking down the budget portfolio, Shettima said that N12.6 billion was set aside for infrastructure development and management of secondary school education, and N10.3 billion for tertiary education, while N4.4 billion for the State Universal Basic Education Board ( SUBEB ) programmes.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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