Niger State Governor Abubakar Sani Bello has presented a budget of N238.924 billion for 2023 to the state legislature for consideration and passage.
The governor in the budget proposal titled “Budget of Consolidation and Transition” said it is 2.96 per cent higher than the 2022 appropriation.
He said it was made up of N91.044 billion or 38.11 percent recurrent expenditure and N147.879 billion or 61.89 percent as capital expenditure.
Bello disclosed that the proposed budget was expected to be financed by the Statutory Allocation= N61.094 billion representing 25.57%; Value Added Tax (VAT) – N35.616 billion or 14.90 percent; Internally Generated Revenue (IGR) – N22.519 billion or 9.43%; Excess Crude/Other Revenue – N4.257 billion or 1.78 percent and capital receipts – N115.436 billion or 48.30 percent.
On sectoral allocation, he said the economic sector had the highest estimate of N98.786 billion or 66.80 percent of the capital expenditure. The social sector was earmarked N38.442 billion (26.00 percent), administrative sector had N9.326 billion or 6.30 percent while the law and justice sector got N1.325 billion representing 0.90 percent.
He emphasised the need to look inward to grow the state’s economy, reiterating the necessity for the review of the Internally Generated Revenue (IGR) and more attention to infrastructural development to attract private sector investment.
The governor stated that the administration would continue to support farmers and boost agricultural productivity in view of the sector’s obvious, strategic importance as the major occupation of the state’s teeming population and the backbone of its economy.
“We will intensify effort to complete the Bobi Grazing Reserve and revamp others. As a potential source of revenue, the state government will continue to solicit the support of appropriate federal government agencies and private investors to develop our tourism potentials. We will also encourage solid minerals development in order to diversify the state’s economy”, he added.
He said the state government would, in the 2023 fiscal year, prioritize the completion of the numerous road projects that had attained 80-90% completion level as well as conclude those already initiated while directing contractors to resume back to their respective sites immediately.
The Speaker, Abdullahi Bawa Wuse, commended the executive arm for the presentation of the budget and promised to ensure its quick passage.
