BEVERLY HILLS, December 30, (THEWILL) – A budget estimate of N175.9 billion has been presented to the Borno State House of Assembly by the state governor, Alhaji Kashim Shettima , as budget estimate for 2015.
Shettima presented the estimate, tagged Budget of Fulfillment to the State Assembly Tuesday, saying N62.9 billion will be spent on recurrent expenditure and N113 billion as capital expenditure.
Disclosing that the budget will be financed from a statutory allocation of N98.4 billion and internally generated revenue of N39.4 billion with the receipts for the year estimated at N38.1 billion, the governor said the budget is geared towards completing all on-going projects and embarking on new ones.
Shettima said these are necessary for improving the living condition of the people of the state and boost the economy of the state.
Promising to mobilise all available resources and human capital to ensure that the targeted objectives are achieved, Shettima also assured on “improving agriculture to generate employment opportunities to the youths and introduction of mechanised farming.”
According to the governor, “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 has dwindled in view of the general downward trend for oil prices in the international market.”
Maintaining that all wastages and leakages would be blocked, Shettima also promised to ensure prudence, accountability and transparency in the management of public funds.
According to the budget estimate, the Ministry of Works is to receive the largest share of N23.3 billion, followed by health with N17.6 billion, while N14.5 billion is allocated to the education sector, with the Ministry of Justice having N786 million.
In his response, the speaker of the state House Assembly, Hon. Abdulkarim Lawan, said: “This budget of fulfillment will create the desired impact on the lives of our people, we are supporting one another.”
The Speaker assured Shettima that the lawmakers would give the bill accelerated hearing as he promised to work together with the executive in the overall interest of the state.
