2023: Gov Zulum proposes N234.8bn budget in Borno

The Borno State Governor, Babagana Zulum, on Wednesday presented the 2023 budget proposal of N234.8 billion to the State House of Assembly.

The spending proposal tagged: “Budget of Continuity for Sustainability,” is N34 billion lower than N267.9 billion for 2022.

In his presentation, the governor said the sum of N144.1 billion was earmarked for capital expenditure and N90.6 as recurrent spending in the budget.

Read also:Gov Zulum appoints 7 permanent secretaries in Borno

He said the budget would be financed through N137.8 billion Recurrent Revenue; N33.1 billion Internally Generated Revenue (IGR), Value Added Tax of N30.1 billion, other Federation Account sources of N6.5 billion, and Capital Receipts of N95.6 billion.

Zulum said: “The 2023 budget like the 2022 shall be based on the Federal Government Fiscal forecast for 2023 to 2025 Medium Term Expenditure Framework which is already domesticated for the first time in the state through your support recently.

“The 2023 budget shall, therefore, be facilitated by enhanced Internally Generated Revenue (IGR) as projected.”

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