Katsina governor presents N341bn as budget for 2022 financial year

The Governor of Katsina State, Aminu Bello Masari has presented a budget of N340,951,912,557.00 for the 2022 financial year before the State House of Assembly.

Presenting the financial document on Wednesday in Katsina, Masari said the 2022 Budget which is tagged “Budget of Economic Resilience” is designed to complete ongoing projects and initiate other capital projects that can be completed within the life of this Administration. 

According to him, “Mr Speaker, Honourable Members of the State House of Assembly, other invited guests, the total budget for the 2022 fiscal year is in the sum of N340,951,912,557.00 with 69.85 per cent Capital Expenditure and 30.40 per cent Recurrent Expenditure. 

“In aggregate terms, the 2022 Budget is higher than that of the 2021 revised budget by N48,064,131,214.00. The 2022 Budget is structured with a total recurrent expenditure of N102,800,756,244.00 which is equivalent to 30.15% of the total budget and capital expenditure of N238,151,156,313.00 which is 69.85% of the total budget”.

He stated that “the total amount projected to finance the 2022 Budget is the sum of N175,105,396,188.00 which comprises of N61,664,771,966.00 as Internally Generated Revenues from the State Board of Internal Revenue and other MDAs. 

“The Revenue Receivable through the Federation Account is estimated at the sum of N100,940,624,222.00 with an Opening Balance of N12,500,000,000.00. It is important to note that the 2022 recurrent revenue has increased by 8.60% over that of 2021 Revised Budget.

“Similarly, the recurrent expenditure in the 2022 Budget has increased by 8.63% which indicates that in real terms the revenue has increased by about 8.60% over that of 2021 fiscal year.

Masari explained further that “the sum of N238,151,156,313.00 which is equivalent to 69.85% of the total Budget is estimated for the capital expenditure.

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