Business and Economy

2024: Governor of Katsina State presents N454bn proposed budget to State Assembly

Published

1 year ago

18 November 2023

Abdul Ganiyu Katsina

Governor Dikko Umaru Radda of Katsina State on Thursday a presented a proposed budget of N454 billion tagged ‘Budget of Reality’, to the State House of Assembly for the 2024 fiscal year..

Governor Radda said capital expenditure will gulp 72.63 percent of the budget, while 27.37 percent is for recurrent expenditure.

A press release issued by his Chief Press Secretary (CPS), Ibrahim Kaula Mohammed, explained that the governor affirmed that days of bloated budgets, poor budget performance, and rolled over projects were over

He explained that the proposed budget is comparatively higher than that of 2023 by N153, 675,604,150.96, representing a 51.11 percent increase.

He further assured that the budget will fully be implemented.

“The 72.63% translates to N329, 979,518,595.97 while, the 27.37% is in the sum of N124, 329,343,517.99,” Radda said.

The governor noted that the revenue projections encapsulated in the budget are pragmatic, while the expenditure estimates are linked to the core of his administration’s strategic policy.

“The total amount of Recurrent Revenue projected to finance the 2024 Budget is the sum of N188,061,977,186.28 which comprises N40,000,000,000.00 as Internally Generated Revenue from the State Board of Internal Revenue and other MDAs, plus the projected Revenue to be received from the Federation Account, which is estimated at the sum of N148,061,977,168.28

60,” he said.

“It is Important to note that the 2024 Recurrent Revenue has decreased by N4,551,098,575.61 representing 9.76% decrease as against the 2023 Revised Budget. Similarly, the Capital Expenditure in the 2024 Budget has increased by 69.91% due to hike in Capital Receipts”.

Governor Radda said the 2024 budget gives priority to education, health and social care, agriculture, environment, public sector reforms, MSMEs and the rural economy, together with the security sector of Katsina.

“We understand that each sector has infrastructural needs so we will invest in power, roads, and water. Our drive to boost revenues through digitization and other growth measures is expected to allow us to deliver on our budget proposal,” he added.