Sokoto state governor, Aminu Waziri Tambuwal has presented the 2923 appropriation bill of ₦198,501,095,129.88 to the state assembly.
Presented on Monday, the budget which the governor said is based on the prevailing fiscal realities as contained in the State Medium Term Expenditure (MTEF), is higher by N10 billion (26.7%) than the 2022 budget which was ₦188,429,495,847.63.
He explained that the budget will be funded by statutory allocation of N95,827,688,557.00; Independent revenue of N28,295,922,105.23; Aid and grants of N74,727,811,323.00 and capital development receipts of N24,537,082,770.63.
The expenditure distribution is spread as Personnel and other recurrent costs N41,338,.449,185.12 and N42,756,507,973.65, respectively and capital expenditure of N111,406,137,971.11.
On sectoral allocation Education got N36,991,319,548.53 (18.6%); Health N25,208,374,170.49 (12.7%); Agriculture N11,010,553,897.62 (5.5%); Water Resources N4,317,715,705.45 (2.2%); Environment N4,141,860,208 (2.1%) and other functions N116,917,145,031.49 (58.9%).
While the Capital Expenditure of the total budget is pegged at 58.9%, the Recurrent Spending is 41.1%.
“The budget will accord priority to the completion of ongoing infrastructural projects and the legacy projects started by this Administration,” Tambuwal stated.
