Katsina Targets N39bn Loan For 2023 Budget

The Katsina State government has said that it would receive domestic and foreign loans of N39 billion to sponsor the 2023 proposed appropriation

According to the details of the proposed budget which was discussed at the fifth regular meeting of the State Executive Council (SEC) presided over by  Governor Aminu Bello Masari, provisions had been made for domestic and foreign components to the tune of N29.4 billion and N10 billion respectively, under capital receipts.

Briefing newsmen shortly after the council meeting, the Permanent Secretary of the ministry, Abubakar Abdullahi, said the 2023 appropriation bill tagged ‘Budget of Transition’ is made up of N288,633,275,962.

The budget estimate which is lower than the existing N323,296,220,961 2022 budget by N34,662,962,998, would be presented by Governor Masari to the Katsina State House of Assembly at a yet to be announced date.

The permanent secretary said that about N119,210,024,000 is expected from the Federation Account; N62,592,061,331 from Internally Generated Revenue (IGR); N36 billion from Value Added Tax (VAT) and N8.3 billion from Excess Crude Account.

“We are expecting a closing balance which will be the opening balance of 2023 to the tune of N12.62 billion

“In all, we are expecting a total distributable revenue of N288,633,275,962 which is going to give us a balanced budget in 2023,” he said