Borno State governor, Babagana Zulum, has presented a budget of N234. billion to the state House of Assembly for 2023.
The budget titled “Budget of Continuity for Sustainability” was presented to the speaker, Abdulkarim Lawan, on Wednesday.
According to the governor, N144.1 billion of the budget was going toward capital expenditure and N90.6 toward recurrent expenditure.
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Governor Zulum told the house that the budget would be financed f rough N137.8 billion recurrent revenue from Internally Generated Revenue (IGR), Value Added Tax (VAT), other federation account sources, and capital receipts comprising loans and grants.
“The 2023 budget like 2022
shall be based on the federal government fiscal forecast for the 2023 to 2025 Medium Term Expenditure Framework which was already domesticated for the first time in the state through your support recently.
“The 2023 budget shall, therefore, be facilitated by enhanced Internally Generated Revenue (IGR) as projected,” he said.
The Speaker said the budget was all-inclusive and promised a speedy passage of the bill.
