Governor Inuwa Yahaya of Gombe State has presented his tenure’s last budget for the 2023 fiscal year worth N173.6 billion to the state house of assembly.
The governor said N71.8 billion representing 41.4 per cent of the budget was earmarked for recurrent expenditure while the sum of N101.8 billion representing 58.6 per cent was designated for capital expenditure.
According to him, the government envisages to generate the sum of N100.6 billion as recurrent revenue and N74.7 billion as capital receipts and an estimated closing balance of N1.6 billion.
He said the budget tagged “Budget of Further Consolidation” would be funded by recurrent revenue receipts, internally generated revenue, statutory allocations, government share of value added tax and other FAAC receipts.
The governor stated that the budget was coming at a period of great uncertainties and challenges, both locally and globally as a result of the COVID-19 pandemic, the crash of oil prices, economic recession and geopolitical conflicts across the world saying despite the challenges, his administration had in the past three-and-half years “weathered various storms to safely sail the ship of their common destiny towards progress.
“As this marks the final budget presentation in my first-term, it is important to acknowledge the excellent working relationship that exists between the executive and the legislative arms of government. This is borne out of our respect for the principle of separation of powers and adherence to the rule of law. I urge this honourable house to continue on this noble trajectory.”
In his response, the Speaker, Abubakar Luggerewo, promised that the budget bill would receive diligent and expeditious legislative scrutiny and passage to ensure developmental programmes for the state.
He acknowledged that the government had performed 60 per cent of the last budget as at September 2022.
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