Gombe State Governor, Muhammadu Inuwa Yahaya on Thursday present the proposed 2023 budget estimate of the sum of N173,697,242,000.00 tagged “Budget of Further Consolidation” to the State House of Assembly.
While presenting the proposal at the Assembly, the governor said that “This is in line with our desire to continue offering our service to the people of Gombe beyond 2023. I wish the Honourable House Allah’s guidance in your deliberations.
“Hon. Speaker, Hon. Members, Distinguished Ladies and Gentlemen, to continue providing for the developmental needs of the people of Gombe State in the 2023 fiscal year, we proposed a budget in the sum of N173,697,242,000.00 only. This is made up of N71,856,492,000.00 only for recurrent expenditure representing 41.4%, and NGN101,840,750,000.00 only for capital expenditure, representing 58.6% of the total budgeted sum.”
According to him, “We envisage to generate the sum of NGN100,615,640,000.00 only as recurrent revenue, and the sum of N74,700,000,000.00 only as capital receipts. Our estimated closing balance for 2023 is expected to be N1,618,398,000.00 only.”
The proposed sectoral allocation for the 2023 budget is: Recurrent Revenue Receipts are expected to be sourced as Internally Generated Revenue of the sum of N18,115,640,000.00; Statutory Allocation of N42,000,000,000.00; Government share of VAT N20,500,000,000.00 and Other FAAC receipts of N10,000,000,000.00.
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The recurrent Expenditure: comprises the following: Personnel Cost of the sum of N22,157,737,000.00; Overhead Cost of N26,466,555,000.00; Social benefits of N 4,733,500,000.00; Debt repayments of N18,215,000,000.00 and Grants and subsidies of N283,700,000.00.
It also includes Capital Receipts expected to be accrued from Opening Balance of N10,000,000,000.00; Transfer from the Consolidated Revenue Fund of N28,759,148,000.00; Other Capital Receipts of N15,000,000,000.00; Domestic Grants of N11,250,000,000.00; External Grants of N 5,850,000,000.00; External Loans of N30,500,000,000.00 and Domestic borrowings of N12,100,000,000.00.
He explained that, “To implement our expenditure plan for the 2023 fiscal year, sectoral allocations are broadly categorized under the following sectors: Economic Sector of the sum of N66,298,300,000.00; Social Sector of N26,619,700,000.00; General Administration of N6,428,000,000.00 as well as Law and Justice of the sum of N2,494,750,000.00.
He added that, “As we gradually approach the electioneering period, I’m confident of your overwhelming support. I want to reassure our people of our undying commitment to continue with our struggle to deliver democratic dividends across all nooks and crannies of our dear state”.
According to him, “The 2023 Budget, being the last in my first-term of four years, is coming at a period of great uncertainties and challenges, both locally and globally.”
Inuwa Yahaya said that, “From the Covid-19 pandemic, the crash of oil prices, economic recession and geopolitical conflicts across the world, we have in the past three-and-half years, weathered various storms to safely sail the ship of our common destiny towards progress” .
“As we prepare for all-important national elections next year, I have no doubt that I will appear before this Honorable House next year – inshaaAllah – to present the 2024 Budget’, he added.
” I want to use this opportunity to once again thank the Honorable House, the State Executive Council, the judiciary, general public and other relevant stakeholders for your support and patronage”, he concluded.
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