Gombe Gov Proposes N173.697bn Budget for 2023
Segun Awofadeji in Gombe
Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya, yesterday presented the proposed budget for the 2023 fiscal year estimate of N173,697,242,000.00 to the state House of Assembly.
While presenting the proposal tagged: ‘Budget of Further Consolidation’ at the Assembly, the governor said: “This is in line with our desire to continue offering our service to the people of Gombe State beyond 2023. I wish the Assembly God’s guidance in your deliberations.”
Presenting the budget, the governor explained that N71.8 billion representing 41.4 per cent of the budget was earmarked for recurrent expenditure while the sum of N101.8 billion representing 58.6 per cent was designated for capital expenditure.
According to him, “The government envisages to generate the sum of N100.6 billion as recurrent revenue and N74.7 billion as capital receipts and an estimated closing balance of N1.6 billion.
“Hon. Speaker, members, distinguished ladies and gentlemen, to continue providing for the developmental needs of the people of the state in the 2023 fiscal year, we proposed a budget in the sum of N173,697,242,000.00. This is made up of N71,856,492,000.00 only for recurrent expenditure representing 41.4 percent, and N101,840,750,000.00 for capital expenditure, representing 58.6 percent of the total budgeted sum’.
“We envisage to generate the sum of NGN100,615,640,000.00 only as recurrent revenue, and the sum of N74,700,000,000.00 only as capital receipts. Our estimated closing balance for 2023 is expected to be N1,618,398,000.00.
“The proposed sectorial allocation for the 2023 budget is: Recurrent Revenue Receipts which are expected to be sourced as Internally Generated Revenue of the sum of N18,115,640,000.00; Statutory Allocation of N42,000,000,000.00; government share of VAT, N20,500,000,000.00; and other FAAC receipts of N10,000,000,000.00.
The recurrent expenditure comprises the following: Personnel Cost, N22,157,737,000.00; Overhead Cost, N26,466,555,000.00; Social benefits, 4,733,500,000.00; Debt repayments of N18,215,000,000.00; and Grants and subsidies of N283,700,000.00.
It also include Capital Receipts expected to be accrued from Opening Balance of N10,000,000,000.00; Transfer from Consolidated Revenue Fund of N28,759,148,000.00; Other Capital Receipts of N15,000,000,000.00; Domestic Grants of N11,250,000,000.00; External Grants of N 5,850,000,000.00; External Loans of N30,500,000,000.00; and Domestic Borrowings of N12,100,000,000.00.”
He explained that: “To implement our expenditure plan for the 2023 fiscal year, sectorial allocations are broadly categorised under the following sectors: Economic Sector of the sum of N66,298,300,000.00; Social Sector of N26,619,700,000.00; General Administration of N6,428,000,000.00, as well as Law and Justice, N2,494,750,000.00.
“As we gradually approach the electioneering period, I’m confident of your overwhelming support. I want to reassure our people of our undying commitment to continue with our struggle to deliver democratic dividends across every nook and cranny of our dear state.”
According to him, “The 2023 Budget, being the last in my first-term of four years, is coming at a period of great uncertainties and challenges, both locally and globally.”
