Shettima Proposes N178bn Budget For Borno In 2014

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Borno-state-government-to-invest-N300million-on-water-300x336government said it will be spending about N178 billion for both capital and recurrent expenditure in this 2014 fiscal year.

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This was disclosed in the 2014 budget proposal laid before the Borno state House of Assembly by the state governor, Kashim Shettima yesterday.

Shettima said that his government will be spending 31 percent (N56,716,513,000.00) of the total budget as recurrent expenditure  while the sum  N121, 784,069,000.00 (69 percent) will be spent ss capital spendings.

Shettima who described proposed fiscal bill as “Budget of Consolidation and Progress”, said his outlined  programmes for this year would be bankrolled  by  statutory allocation of N139,897,818,000.00 and internally generated revenue of N30,783,287,000.00.

He noted that the capital receipts of the state were estimated at N121,784,069,000.00.

Just like the previous year, the education sector has the highest allocation of  over N25 billion, while  the state’s ministry of works and that of health got the second and third largest allocation of  20, 551,722,000.00 and N15,355,962,000.00 respectively.

“This is a balanced budget as there is no deficit and no excess since recurrent revenue and capital receipts have adequately financed both recurrent and capital expenditures.

“In  the 2014 fiscal year, therefore, government intends to deploy a holistic approach on the implementation of its developmental projects and programmes so as to achieve the desired targets of not only revamping the economy but also making Borno State one of the greatest and most viable federating units in Nigeria.”

Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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