Governor Bala Presents N300bn Budget To Bauchi Assembly

Ajiya Ayuba

Bauchi State governor, Bala Mohammed Abdulkadir on Thursday presented the 2024 budget of N300 billion to the state House of Assembly for consideration and passage.

The presentation of the 2024 budget was held at the State House of Assembly complex in Bauchi.

The governor said “This presentation is indeed the first in the life of the current tenure of this administration. It has therefore become imperative for me to use this opportunity to, with a deep sense of utmost humility and gratitude, acknowledge the citizens of the State for their confidence in our abilities which had manifested in our re-election into the second term. I wish to assure them of our clear commitment to continue to serve them with the fear of the Almighty Allah, unto whom we shall all return and give account of our stewardship.

The year 2024 budget which I tag “BUDGET OF CONSOLIDATION & RENEWED FOCUS”’ is prepared based on the Medium-Term Expenditure Framework (MTEF) in compliance with Bauchi State Fiscal Responsibility Law (2009).  It further complies with the National Format and Chart of Accounts, aimed at improving the quality of financial reporting in line with the International Public-Sector Accounting Standards (IPSAS).

He explained that the 2024 Budget has been predicated on the assumptions of an oil production projection of 1.78 million barrels per day; 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 arising from oil subsidy removal; 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 of Recurrent Expenditure of N121,341,193,343.11 or 40.4% while Capital Expenditure receives the sum of N178,878,512,477.49 or 59.6%”

“My Bauchi Project’, my strategic vision was initially developed in 2019 to guide us into the first tenure of our administration. It also guided the development of the Bauchi State Medium Term Development Plan 2021-2025 which provides the roadmap towards meeting up to the numerous demands of the citizenry and the electioneering promises we made to the people.

“Between 2019 and 2023, a lot happened, including some significant progress towards the provision of basic social services and improving the quality and stock of infrastructure that had affected the lives and welfare of the people. Several other major reforms have also been undertaken along the various sectors of the public service”

“This had informed my decision to appoint a Technical Committee, as part of the transition, leveraging on the expertise and experiences of the members, to review and evaluate the level of implementation of the 2019 flagship blueprint ‘my Bauchi Project’. Furthermore, the Committee was mandated to consider and suggest ways and means to continue the implementation of the vision and mission of ‘my Bauchi Project’ for the next four years”

“We will provide greater access to our major urban centres through the dualization of access roads in Azare, Misau, Ningi, Jamaáre and Dass. This is in addition to other rural roads we plan to construct across the State to further open up the state and provide needed access to markets for our citizens mainly engaged in agriculture.

“Drawing inspiration from global commerce capitals like Dubai, we envisage transforming Bauchi into a focal point for trade and investment in the North East. With favorable rankings in ease of doing business and massive infrastructure initiatives, the State presents a golden opportunity for investors.

The governor assured the lawmakers and the entire good people of the state that the 2024 budget proposal would focus more on capital infrastructure development to provide the dividends of democracy to the people.

While speaking during the budget presentation, the speaker of the house, RT Honorable Babayo Mohammad Akuyam assured the governor, Bala that by God’s grace the 2024 budget will past in to the law before end of the year.