Borno state Governor, Babagana Umara Zulum has presented a budget of N267billion for the 2022 fiscal year to the state House of Assembly for approval.
Presenting the budget tagged “Budget of Hope for Post-Conflict Stability”, Zulum said that it was made up of N172 billion capital expenditure and N95 billion recurrent expenditure.
“For the year 2022, we as government of Borno State propose the sum of N267,921,484,000.00 for the 2022 fiscal year made of N172,535,634,000.00 for capital expenditure and N95,385,850,000.00 for recurrent expenditure.”
He said the budget was aimed at fast tracking ongoing reconstruction of destroyed communities for safe and dignified resettlement of Internally Displaced Persons (IDPs), as well as provision of livelihood and social support to the people.
“The budget will be financed from anticipated recurrent revenue of N113 billion made of FAAC allocation and increased IGR, and capital receipts of N154 billion made up of loans and grants,” he said.
Zulum said the government plans to establish new technical schools, reconstruct and reopen some schools destroyed by insurgents in 2022.
“The combine sector of education is allocated the sum of N38,069,877,000.00 for both recurrent and capital expenditures for the 2022 fiscal year. The amount, which represent 20.22% of the budget size comprise N11,602,110,000 for the ministry of education; N13, 933,224,000 for Higher Education, N18,533,600,000 for the State Universal Basic Education Board and N4, 666,800 for Borno State Teaching Service Board.” He said.
Zulum also announced allocation of N22.9billion to Works, for the construction of a number of roads in the state.
The 2022 Budget is based on the Federal Government’s Fiscal forecast for 2022 – 2024 Medium Term Expenditure Framework “which in our own case, is based on anticipated increase in Internally Generated Revenue (IGR) during the 2022 fiscal year.” He added.
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