MON, DEC 18 2023-theGBJournal| The Kaduna State Governor Uba Sani on Monday presented the State’s 2024 budget with draft revenue and expenditure estimates of N458.271 billion to the State House of Assembly, the first budget of his administration.
Capital Expenditure takes the lion share, totaling N139,434,722,889.38 while recurrent expenditure, representing a capital to recurrent ratio of 69.57% to 30.43% totals N139,434,722,889.38.
The Governor said the draft budget prioritises capital spending in accordance ”with our SUSTAIN Agenda, which not only aims to deliver inclusive development through the provision of critical infrastructure, especially in our rural communities, but also delivering on social protection and human capital development to reinvigorate the productivity of our people, create jobs and boost the economy.”
The Governor is projecting his administration will spend N115,421,129,011.16 or 25.19% on education, N71,647,821,975.33 or 15.63% on Health, and a total of N93,597,652,206.40 which is one-fifth of the budget or 20.42%, is allocated to the Economic sector, including agriculture, public works and infrastructure, and housing.
The draft 2024 – 2026 budget estimates, tagged “Budget of Rural Transformation for Inclusive Development”, is based on adjusting the size of the budget to conform with realizable revenues in view of current economic realities, the Governor said.
It is also based on providing funds for ongoing projects and inherited capital liabilities while embarking on new priority projects within the multi-year time-frame of 2024-2026, and improving the internal revenue generation and revenue collection capacity of the relevant State agencies.
The Governor told the House members that through the effective implementation of this budget, his administration hopes to bridge the gap between the rural and urban areas, revitalize the rural economies, address poverty frontally, empower its people, address infrastructure deficits, and renew the people’s belief in governance and democracy. This is a budget like no other.
He expressed confidence that that the House will give expeditious consideration to the Budget.
”Our relationship with this Honourable House has been very cordial. We thank you for your services to the people of Kaduna State. We belong to the same government,” he said.
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