Gov Bala Mohammed presents N300bn 2024 Appropriation Bill to Bauchi Assembly

Bauchi State Governor Bala Mohammed presented a N300 billion budget proposal for the fiscal year 2024 to the State House of Assembly on Thursday for deliberation and subsequent passage.

He stated that the 2024 budget, dubbed the ‘Budget of Consolidation and Renewed Focus,’ is made up of N121.3 billion in recurrent expenditure (40.4%) and N178.8 billion in capital expenditure (50.6%).

Mohammed added that the budget was established in accordance with the Bauchi State Fiscal Responsibility Law (2009) and was based on the Medium-Term Expenditure Framework.

According to the Governor, the budget plan also complies with the National Format and Chart of Accounts, which are aimed at increasing the quality of financial reporting in accordance with International Public-Sector Accounting Standards.

He stated that the 2024 budget was based on the assumptions of 1.78 million barrels per day of oil production, a benchmark oil price of 73.96 US dollars per barrel, an exchange rate of N700 to the US dollar, an improved level of revenue accruals into the Federation Account as a result of the removal of oil subsidies, and an improved and efficient system of internally generated revenue collection.

“The sum of N300,219,705,820.60 has been Budgeted for Capital and Recurrent services during the 2024 fiscal year.

“This comprises recurrent expenditure of N121.3 billion or 40.4% while capital expenditure receives the sum of N178.8 billion or 59.6%.

“The 2024 proposed Budget is 48.2% higher than the budget I presented at this House for 2023. The increase is attributable to the increased revenue arising from the subsidy removal and the upward inflationary trends associated with the depreciating state of the local currency,” he said.

He said that this implies an increase in prices upon which our projects and programmes will be implemented. The adoption of this conservative approach is to ensure that projects and programmes captured are appropriately costed.

According to him, the process of the preparation of the budget has been all inclusive as Budget Public Hearings were conducted in the three Senatorial Zones where inputs from stakeholders were elicited and incorporated into the Budget proposal

The Governor stated that the government was only able to achieve about 51.6% in the implementation of the 2023 budget as of 30th September 2023.

In his response, the Speaker, Babayo Akuyam, assured the Governor that the lawmakers would expedite action on the budget.

“I assure you that we will expedite action on the budget and before the end of the year, we ensure that the budget is passed so that you can continue with the good work you’re doing for the benefits of the people of the state.

“I want to call on all MDAs to appear before the House to defend their budget. We will not tolerate any MDAs who fails to appear to defend its budget,” he warned.