The Borno State Governor, Alhaji Kashim Shettima, on Tuesday presented the 2015 Appropriation Bill of N175.9bn to the state House of Assembly.
Presenting the bill, tagged, Budget of Fulfillment, the governor said, “We have budgetted the total sum of N175.9bn for the fiscal year comprising N62.9bn as the recurrent expenditure and N113bn as capital expenditure.
The governor explained that the budget would be financed from a statutory allocation of N98.4bn and Internally Generated Revenue of N39.4bn, with the receipts for the year estimated at N38.1bn.
He said the budget was geared towards completing all ongoing projects and embarking on new ones that were necessary for the achievement of set goals and objectives of improving the living conditions of the people of the state in order to boost the economy of the people individually and the state.
Shetima said, “We shall mobilize all available resources and human capital to ensure that the targeted objectives are achieved especially peace and stability, conducive environment for small and medium scale business to thrive, improving agriculture to generate employment opportunities to the youths and introduction of mechanised farming.
“Considering the fact that our projections are ambitious, while our resources are limited, we shall explore all avenues of revenue generation to compliment the statutory allocations from the federation account which have dwindled in view of the general downward trend for oil prices in the international market.”
The Speaker of the Borno State House Assembly, Mr. Abdulkarim Lawan, said, “This budget of fulfillment will create the desired impact on the lives of our people, we are supporting one another.” Click to signup for FREE news updates, latest information and hottest gists everyday
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