The Bauchi State Government has planned to borrow ₦89.63 billion out of the ₦300.22 billion appropriated for the 2024 fiscal year.
The proposed budget which has been sent to the state’s House of Assembly for consideration indicates that the state government is expecting to generate ₦210.59 billion (70.15%) from different sources of its revenue, while ₦89.63 billion (29.85%) is to be borrowed to supplement the budget.
Also, ₦178.88bn (59.60%) will be used for Capital Expenditures while ₦121.34bn (40.40%) will be used for Recurrent Expenditures.
Read Also: JUST IN: Bauchi Gov Presents N300bn 2024 Budget Estimate
WikkiTimes reports that Bauchi State Governor Bala Abdulkadir Mohammed proposed a N300,219,705,820.60 billion budget for the 2024 fiscal year to the Bauchi State House of Assembly for consideration and approval.
The governor said the budget estimate was made based on a 1.7 million barrel oil production benchmark per day at $73 per barrel and N700 to a dollar.
The 2024 proposed budget is 48.2% higher than the 2023 budget which had only 51.6% implementation achieved as of 30th September 2023.
