Gombe seeks N42.6bn loan to fund N173.69bn ‘budget of transition’

Gombe seeks N42.6bn loan to fund N173.69bn ‘budget of transition’


The Governor of Gombe State, Muhammadu Inuwa has presented 2023 budget proposal of N173,697,242,000.00 to the State Assembly for consideration and passage.

The proposal for the fiscal year of transition, is made up of N71,856,492,000.00 only for recurrent expenditure representing 41.4%, and N101,840,750,000.00 only for Capital expenditure, representing 58.6% of the total budgeted sum as against the 2022 fiscal year where the the sum of N154,963,964,000.00 was proposed by the administration.

The 2023 budget is made up of N70,000,564,000.00 as recurrent expenditure and N84,963,400,000.00 as Capital expenditure, representing 45.2% and 54.8% respectively.

Speaking during the presentation, Governor Muhammadu Inuwa Yahaya said part of the funding for the 2023 Capital expenditure will be sourced from external loan and domestic borrowing to the tune of NGN.30,500,000,000.00 and N12,100,000,000.00 respectively.

The proposed sectoral allocation for the 2023 budget under Recurrent expenditure with an Internally Generated Revenue:
Personnel Cost, N22,157,737,000.00, while Overhead Cost and Debt repayments, will gulp N26,466,555,000.00 and N18,215,000,000.00 respectively.

The Capital Receipts according to the Governor is expected to be accrued from, while transfer from Consolidated Revenue
Fund is estimated at N28,759,148,000.00, according to the Governor who is seeking re-election.

Other Capital Receipts of N15,000,000,000.00, according to further breakdown of the budget with Domestic Grants of N11,250,000,000.00 in addition to External Grants of N 5,850,000,000.00.

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Similarly, the Gombe State 2023 Capital Expenditure is broadly categorized under the following sectors: (a) Economic Sector comprising agriculture, rural and community development, trade, tourism, works and infrastructure ,housing and urban development and others, put at N66,298,300,000.00.

The Governor said Social Sector comprising education, higher education and health,youth and sports development pegged at N26,619,700,000.00 and N6,428,000,000.00 that was allocated to General Administration, while Law and Justice for N2,494,750,000.00.


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