ASHENEWS reports that the Niger State Governor Mohammed Bago on Thursday presented a N1.5 trillion proposed 2025 budget to the State Assembly, tagged the “Budget of Hope for Sustainability and Food Security.”
The budget prioritizes critical economic sectors, including security, agriculture, health, education, water, sanitation, infrastructure, social welfare, and environmental sustainability.
Key assumptions for 2025 budget estimates included a projected N106.37 billion Annual return on investment from agriculture, an N50 billion projected annual earnings from solid minerals N50 billion naira as well as a proposed exchange rate of N1,500 per USD.
Others include a sustained internal revenue drive through automation of collections and blocking of leakages, a projected National Inflation rate of 28% and a GDP Growth rate of 3.7%.
The governor also outlined an expected crude oil price benchmark of $75 and a production benchmark of 1.7 million barrels/day.
The proposed 2025 budget presents a total proposed recurrent expenditure of N196,335,361,443.00 billion and a projected total capital expenditure of N1,362,552,203,915.00.
The governor in his presentation, disclosed that the state witnessed a 39.84 percent increase in its internally generated revenue (IGR).
“Between January and September, it grew from N18,073,583,079.90 billion in 2023 to N30,041,847,295.83 billion, representing a 39.84% increase.”
Reviewing the performance of the 2025 budget, Bago said that the state government has made significant investments across sectors.
The governor who called for support, cooperation and understanding from residents of the state reaffirmed his commitment to improving infrastructure across the state.
“The 2024 approved estimates, this administration’s first annual budget, recorded tremendous success through your support.
“As we roll out the second full-year budget aimed at sustaining the gains of the recent past, I am confident of your trust and support in realising our noble objective.”
In his remarks, the Speaker of, the Niger State House of Assembly, Abdulmalik Sarkin Daji, lauded the efforts of the state government in improving the lives of the citizens.
Sarkin Daji maintained that the State Assembly remains resolute in its readiness to forge a dynamic partnership in pursuit of a prosperous and enduring legacy.
