Gombe State Governor Muhammadu Inuwa Yahaya presents 2023 budget proposal of N173.6 bn to House of Assembly

Gombe State Governor, Muhammadu Inuwa Yahaya on Thursday, presented 2023 budget proposal of One Hundred and Seventy-Three Billion, Six Hundred and Ninety Seven Million, Two Hundred and Forty-Two Thousand Naira (N173,697,242,000.00) tagged “Budget of Further Consolidation” to the State House of Assembly for consideration and passage. The 2023 fiscal year proposal of  N173,697,242,000.00  is made up of N71,856,492,000.00  for recurrent expenditure representing 41.4%, and NGN101,840,750,000.00  for capital expenditure, representing 58.6% of the total budgeted sum. The Governor said that his administration envisaged to generate the sum of NGN100,615,640,000.00 as recurrent revenue, and the sum of N74,700,000,000.00  as capital receipts while the estimated closing balance for 2023 is expected to be N1,618,398,000.00 respectively.

He said that the  proposed sectoral allocation for the 2023 budget included Recurrent Revenue Receipts which they are expected to be sourced from Internally Generated Revenue of   N18,115,640,000.00, Statutory Allocation  of N42,000,000,000.00, Government share of VAT  N20,500,000,000.00 and Other FAAC receipts N10,000,000,000.00. On the Recurrent Expenditure, the Governor said it  comprised of  Personnel Cost of N22,157,737,000.00, Overhead Cost of N26,466,555,000.00, Social benefits N 4,733,500,000.00,  Debt repayments  of N18,215,000,000.00  and  Grants and subsidies  of N283,700,000.00 respectively. According to him, the Capital Receipts expected to be accrued from  Opening Balance of  N10,000,000,000.00,  Transfer from Consolidated Revenue Fund of N28,759,148,000.00 ,

 Other Capital Receipts of N15,000,000,000.00 and Domestic Grants of N11,250,000,000.00. External Grants of N 5,850,000,000.00; External Loans of N30,500,000,000.00 and Domestic borrowings  of N12,100,000,000.00 are components of the proposal. After catalogues of achievements recorded in various sectors of the economy, the Governor said, “This is in line with our desire to continue offering our service to the people of Gombe beyond 2023”. He used the opportunity to once again thank the Honourable House, the State Executive Council, the judiciary, general public and other relevant stakeholders for their supports and patronages. “As we gradually approach the electioneering period, I’m confident of your overwhelming support. I want to reassure our people of our undying commitment to continue with our struggle to deliver democratic dividends across all nooks and crannies of our dear state”.