By; MOHAMMED KAWU, Bauchi
A total sum of N167,957,420, 800 has been proposed by the Bauchi State Government for its services in the 2018 fiscal year.
The amount is made up of a recurrent expenditure of N68, 077, 930, 725 and a capital expenditure of N99, 879, 490, 075 for the period.
Presenting the budget proposal tagged “Budget of Consolidation” to the State House of Assembly Thursday, Governor Mohammed Abubakar gave a recurrent revenue estimates of N114, 600, 617, 381.
The recurrent revenue estimates is made up of Internally Generated Revenue (IGR) of N13, 126, 384, 230 and statutory allocation of N101, 474, 233, 151.
Also in the recurrent revenue estimates are personal cost N28, 530, 933, 150; Overhead cost N26, 779, 394, 308 and consolidated revenue fund charges of N12, 567, 603, 267 made up of Pension and Gratuity N7, 500, 000, 000; Public Debt Charges/Debt Servicing N4, 349, 163, 064 and Public salary N918, 440, 202.
Governor Mohammed Abubakar said it is projected that the state will realize capital receipts in the sum of N53, 356, 803, 419 in the areas of opening balance N315, 000, 000 and internal loans of N15, 210, 000, 000
Other capital receipts are external loans N13, 269, 051, 304; Aids and Grants N11, 171, 752, 115, as well as other capital receipts of N13, 391, 000, 000.
Under capital expenditure, he said, administrative sector take N7, 234, 686, 954 and economic sector N51, 939, 122, 062 while social sector, regional sector, and law and justice sector takes N35, 379, 079, 751; N3, 589, 148, 817 and N1,737, 451, 591 respectively.
He said that the 2018 budget apart from being prepared on Medium Term Expenditure framework (MTEF), is also in line with International Sector Accounting Standards (IPSAS) on cash basis.
The governor explained that in preparation of the Fiscal Strategy Paper, both scientific and historical approaches remained the major tools of economic analysis for a credible 2018 budget and 2018 – 2020 Medium Term Expenditure Framework (MTEF).
Accordingly, he stated, the state also moved from the current 26 digits to 52 digits of IPSAS National Chart of Accounts, and acknowledged the contribution of RTI/LEAD in supporting Bauchi to achieve the feat.
With the slow national economic growth attributable to 2016 – 2017 economic recession, the governor urged citizens to continue to exercise patience and be more industrious, as the state continue to forge ahead in addressing the slow recovery process.
Describing the task of nation building as difficult but not unsurmountable, Abubakar pleaded will all to put hands on deck in moving Bauchi state forward, and appreciated traditional rulers and the people of the state in general for their support and understanding over the years.
Receiving the budget proposal on behalf of the House, the speaker, Rt. Hon. Kawuwa Shehu Damina disclosed that the legislature has during the past 12 months passed 15 bills, out of which 12 were sponsored by members while three came from the executive arm.
The Speaker, who said that all members of the House are up and doing in constituency engagements, disclosed that all their achievements were made possible through capacity building both within and outside the country which taught them many legislative rudiments.
He assured the executive arm and the entire people of the state that the 2018 budget presented to the House will receive the attention it deserve with a view to passing it within the shortest time possible.
Damina, therefore urged the MDAs to give their maximum cooperation to the various standing committees of the House in defending their budget estimates, as failure to do so will warrant sanction of the House.
