FRCN HQ
Finance Headline Katsina Local Nasarawa News Nigeria

Abdullahi, Masari present 2023 budget estimates

Governor Abdullahi Sule laying down the 2023 budget proposal before the state law makers. Photo: Chris Nyamtu

Governor Abdullahi Sule of Nasarawa State has proposed a budget estimate of over 148 billion Naira for the 2023 fiscal year.

Governor Sule while presenting the budget at the chambers of the state House of Assembly in Lafia said the 2023 appropriation bill shows an increase of over 38 billion Naira against the 2022 budget.

According to the governor, the 2023 budget estimate was based on the oil benchmark of 70 US Dollar per barrel with the exchange rate of 435.57 Naira to the Dollar.

Governor Abdullahi Sule presenting the 2023 budget estimate at state House of Assembly. Photo: Chris Nyamtu

Giving a breakdown of the 2023 appropriation which is tagged ” Budget of Economic Consolidation and Transition, Governor Sule said over 90 billion Naira representing 60.54 percent was earmarked for recurrent expenditure while over 58 billion Naira representing 39.16 percent was set aside for capital expenditure.

Also, from the budget, the education sector was to gulp 37.87 billion Naira with 18.61 billion Naira for the health sector.

Governor Sule noted that the 2023 budget was hinged on his administration’s commitment to executing critical projects and accelerated socio economic development of the state.

The governor however used the medium to call on candidates of political parties seeking elective positions to play the game according to the rules and shun bitterness, carry out campaigns aimed at enhancing progress and development.

Budget of Transition’

Governor Aminu Bello Masari of Katsina State has presented the state’s 2023 budget proposal of over N288 billion before the State House of Assembly.

The draft budget tagged ‘Budget of Transition’, proposes a capital expenditure of N184 billion and a recurrent expenditure of N104 billion.

Governor Aminu Bello Masari presenting the 2023 budget estimate at the state House of Assembly. Photo: Isma’il Adamu

The proposed budget appropriates N31 billion to the environment, N29 billion to Water Resources, and N23 billion to the health sector.

Similarly, N20 billion was appropriated to the works sector while N18 billion was allocated to the education sector.

While presenting a review of the budget performance for the current fiscal year, Governor Masari said as at 30th October this year, the 2022 budget has recorded a revenue performance level of 35 percent with a total expenditure of N102 billion out of the N323 billion budgeted for the fiscal year.

He explained that the state government has expended N60 billion on the provision of capital services in key sectors that include healthcare, education, works and agriculture, water resources and the environment.

Masari noted that the 2022 budget implementation was largely affected by the Covid-19 pandemic, security challenges, and shortfall in revenue that accrued to the state due to the global crash in oil prices.

Our correspondent reports that the 2022 budget estimate has exceeded the 2021 budget figures by about N34 billion.

Shortly after receiving the budget proposal, the Speaker of the State House of Assembly, Alhaji Tasiu Maigari assured the governor that the house will ensure its speedy passage before the end of the year.

Reporting by Chris Nyamtu, Isma’il Adamu; editing by Abdullahi Lamino