Governor Babagana Zulum of Borno State on Monday presented the 2020 budget appropriation bill to the state House of Assembly in Maiduguri.
The budget proposal tagged ‘budget of recovery and stabilization’, proposed the sum of N134,500,923,000, representing a 7.5% decrease from the 2019 budget.
However, in the proposed budget, recurrent expenditure is pegged at 67,540, 524,000, representing 50.37% while capital expenditure is N66,960,399,000, representing 49.7% of the budget.
A further breakdown of the budget showed that the health sector has the highest allocation of N11,666,873,000, followed by the ministry of RRR which has N9,230,418,000 as her allocation for the year 2020.
While presenting the document before the state lawmakers, the governor said the decrease was as a result of the proposed crude oil price benchmark of 57 USD per barrel as against 60 USD per barrel used for the outgoing year budget.
According to him, other factors like inflation rate, internally generated revenue, dollar to the naira exchange rate as well as oil production estimates of 2.18million barrel per day were all put into consideration while preparing the budget.
Mr Zulum stated further that the need for the government to meet the yearnings and aspirations of the most displaced persons in the state pushed his government to develop a plan, themed: 10-pact transformation agenda, to take the state out of the embarrassing status of humanitarian needs.
“This philosophy informs the direction of our government and approach to work with courage, judgment, integrity, and dedication to ensure we make a real difference in the lives of our compatriots, rebuild our infrastructure, revamp our economy, create jobs for the jobless, provide quality education and health services for our communities and stay in peace and tranquility,” Mr Zulum stated.
On his part, the Speaker, Borno State House of Assembly, Abdulkareem Lawan assured the state governor of the legislators’ resolve to expedite actions on the bill, “in order for the executive to implement fully the developmental projects outlined for the people of the state”.