Bauchi Gov Presents Budget of Consolidation and Sustainable Development
By Abbas Usman, Bauchi
The Governor of Bauchi State, $enator Bala Muhammad on Thursday 21st November 2024 presented a total Sum of N465 billion Budget as proposed Appropriation bill for 2025 to the state House of Assembly
The 2025 budget, tagged ‘Budget of Consolidation and sustainable development’ is made up of recurrent expenditure of N182.7billion (39.3 per cent) while capital expenditure receives the sum of N282.3 billion (60.7per cent) as stated by the Governor.
Gov Muhammad stated that the budget was prepared based on the Medium-Term Expenditure Framework in compliance with the Bauchi State Fiscal Responsibility Law (2009), adding that it further complies with the National Format and Chart of Accounts, aimed at improving the quality of financial reporting in line with the International Public-Sector Accounting Standards (IPSAS
Governor Mohammed informed that the 2025 budget was predicated on the assumptions of an oil production projection of 2 million barrels per day; a benchmark oil price of 75 US dollars per barrel, an exchange rate of N1,400 US dollar with an improved level of revenue accruals into the Federation Account as a result of an improved and efficient system of Internally Generated Revenue locally at the state level.
He said that Government in the cause of the preparation of the budget took the following measures into consideration which include ensure the completion of ongoing projects, propose new projects only on the basis of critical needs and the impact they will make, reduction in non-essential over head costs, implementation of new minimum wage, Implementation of contributory pension scheme in the state, compliance with budget guidelines issued by the Nigeria Governors’ forum, compliance with debt servicing, target favourable sources of capital receipts of financing such as aids, grants, PPPs etc.
“The 2025 proposed Budget is 18 % higher than the budget i presented at this House in 2024 as well as the supplementary budget considered by the house within the year. The process of the preparation of the budget was all inclusive, budget public hearings were conducted within the three Senatorial zones where inputs from stakeholders were elicited and incorporated in the budget proposal, adoption of the community charter of demand with detail demand for interventions submitted by various communities”. He explained.
The Governor unfolded that the government was only able to achieve about 51.2% in the implementation of the 2024 budget as at 30th September 2024.
In his response, the Speaker of the Bauchí State House of Assembly, Hon. Abubakar Suleiman assured the Governor that the lawmakers would expedite action on the budget even as he called on all heads of MDAs to cooperate with various committees in the house to ensure early defense of their proposals, warning that failure to cooperate with the committees will attract appropriate sanctions.
He expressed optimism that the 2025 budget of N465 billion has the potential to boost the performance of the government and stimulate the economy of the state.
“I assure you that we will expedite action on the budget and before the end of the year, the budget will be passed so that you can continue with the good work you’re doing for the benefits of the people of the state”.
According to him, “I am pleased to say that the budget has prioritized some major key areas of interventions that are indices of growth and development for the state, much as education, health, rural and infrastructural development, economic empowerment, ICT, Youth and Women Development and the less privileged in the state.”
He believes that despite the current economic realities in the country, the budget performance of 2024 will achieve 80 percent performance before the end of the year which he noted was made possible by the inclusion of the supplementary budget.
The speaker commended the administration of Governor Bala Muhammad for maintaining a cordial relationship between the executive and the legislative arm of government, assuring of the speedy passage of the budget proposal into law in the interest of the good people of the State.
