Niger State Governor, Hon Mohammed Umaru Bago, laid before the State House of Assembly on Tuesday an estimated 2024 budget proposal of N613,274 billion.
The proposal is made up of N149,217b as recurrent expenditure, representing 24.33 percent, and a capital estimate of N464,058b, representing 75.67 percent. Christened "Budget of the Future", Governor Umaru Bago said the budget was predicated on sustainable development anchored on the Green Economy initiative of his administration.
The budget, according to the governor, will be financed through an expected recurrent revenue inflow of N298.052 billion and capital receipts of N315,322 billion, comprising loans and grants.
The governor also outlined modalities to raise the funds, including loans and grants, an expected N5.1 billion in monthly internally generated revenue, the abolition of generate and utilise by all MDAs, the implementation of the state and local governments harmonised revenue laws, the automation of IGR collection to block leakages, the introduction of 5% contract processing fees, and entertainment at hotels and resorts, among others.
In the sectoral breakdown of the budget, the infrastructure, housing, and urban renewal sectors got the highest allocation of N220.6 billion, which represents 42 percent of the entire budget, followed by education, agriculture, and health with N76.2 billion, N43.5 billion, and 42.7 billion, respectively, allocated; while law and justice got the lowest estimate, which stood at N2.730 billion.
According to the Governor, "Our social contract with Nigerlites in our manifesto is to improve livelihoods, foster a sustainable economy, uphold good governance, and advance both urban and rural development, which defines the essence of this transformative initiative".
Governor Umaru Bago recounted the numerous achievements recorded by his administration and assured that the 2024 budget was geared towards the enthronement of a new and sustainable Niger that is full of opportunities for all.
While appealing to the Speaker and other Members of the State Assembly for speedy scrutiny and passage of the budget proposal, the governor commended them for a harmonious working relationship between both arms of government, promising that his administration will continue to strengthen the existing synergy and collaborations.
"We are at the threshold of evolving a new and sustainable Niger. This calls for cooperation and understanding from all.
"In the first quarter of 2024, we will launch our long-term, medium-term, and all sectoral plans. To achieve our vision, sustainability will be mainstreamed into all our plans, particularly through our green economy initiative”, the governor added.