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Gov Mai Mala Buni presented a N320.8 billion Appropriation Bill for the 2025 fiscal year to the Yobe House of Assembly on Thursday.
At the presentation in Damaturu, Buni described the proposed budget as the “Budget of Economic Consolidation and Poverty Reduction,” aimed at completing ongoing projects across the state.
The budget allocates N176.8 billion to capital expenditure and N144 billion to recurrent expenditure.
According to Buni, these allocations represent 51.1% for capital expenditure and 44.9% for recurrent expenditure of the total budget. Specific sectoral allocations include N156.9 billion for the economic sector, N108.5 billion for the social sector, N50.6 billion for the administrative sector, and N4.8 billion dedicated to law, peace, and justice.
Reflecting on the 2024 budget, Buni noted that N216.9 billion had been approved for both capital and recurrent expenditures.
However, actual revenue received from the federation account, internally generated revenue, and the opening balance from January to September stood at N206.99 billion, achieving 95.4% of the target.
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“The overall performance of the 2024 budget for both recurrent and capital expenditure was N164.9 billion, indicating 76% success as of September 30, 2024,” he said. “The volume of both the revenue and expenditure is expected to rise before the end of the year.”
Buni highlighted the challenges impacting project implementation, including the unfavorable Naira-to-Dollar exchange rate and persistent inflation.
Despite these challenges, he expressed optimism: “We are optimistic of an increase in the rate of our fulfillments before the fiscal year runs out.”
He concluded by commending the Assembly for fostering a productive working relationship with the executive branch.
In response, Speaker Alhaji Buba Mashio assured the governor that the Assembly would prioritize the swift passage of the proposed budget.
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