Yobe State Governor, Mai Mala Buni on Thursday presented a budget of N163,155,366,000 to the state House of Assembly for consideration for the 2023 fiscal year.
The budget is tagged ‘The Budget of Continuity, Consolidation and Economic Transformation” signifies a 0.49% decrease compared to the 2022 budget.
Recurrent expenditure is to gulp Eighty-seven Billion, Eight Hundred Million, Seven Hundred and Seventeen Thousand Naira (N87,800,717,000) representing 57%.
“The sum of Seventy-five Billion, Three Hundred and Fifty-four Million, Six Hundred and Forty-nine Thousand Naira (N75,354,649,000) representing 43% is earmarked for capital expenditure. Our sources for financing the budget are submitted in the details of Appropriation and Finance Bills.
Highlighting the Budget, Buni explained that “the 2023 budget will dwell on completion of ongoing projects in pursuance of Government’s post-insurgency recovery and speedy socio-economic development programme.
“We would, therefore, concentrate on but not limited to the following: Government would sustain its efforts in road construction as a major factor for infrastructural development for efficient delivery of goods and services to woo both indigenous and foreign investors.
“The actual revenue receipts from the Federation Account Allocation, Internally Generated Revenue, and other sources including the Opening balance covering the period of January to September 2022 stood at One Hundred and One Billion, Seven Hundred and Twenty-seven Million, Thirty-one Thousand, Eight Hundred and Eighty-nine Naira (N101,727,031,889) representing 62% of the approved budget
“Provision is also made for additional well-equipped structures including Staff and Doctors’ Quarters and upgrading of some existing health facilities across the State. The government would also provide for counterpart funds for immunization against polio and other programmes jointly funded with our development partners”.
“The State Government in conjunction with Chevron Oil would construct a Cancer Radiotherapy Center at the Yobe State University Teaching Hospital for the treatment of various types of cancer including Breast and Cervical Cancer for women.
According to him, the global recession has negatively affected the total revenue receipts by the state government thereby reducing our funding capacity and overall performance on the 2022 budget. “We, however, anticipate an increase in the performance before the current fiscal year runs out”.
