Gov Bala presents N465b 2025 budget estimate to state assebly
By Samuel Luka, Bauchi
Governor Bala Mohammed of Bauchi state has presented the 2025 budget estimate of N465,085, 248, 317.12 to the state house of assembly for approval.
Mohammed while presenting the budget estimate on Thursday, pointed out that his administration has over the last five years steered the affairs of the State to a path of sustainable development and continuous progress through the implementation of citizen-focused and demand driven projects and programs.
Bala said in the budget estimate, administrative sector carries N69,941,674,429.65, Economic sector has N219,506,601,771.75, Law and Justice sector got N9,538,142,748.76, living the social sector with N166,098,829,366.96
According to the Governor, the 2025 budget tagged, “Budget of Consolidation & Sustainable Development” is prepared based on the Medium-Term Expenditure Framework (MTEF) in compliance Bauchi State Fiscal Responsibility Law (2009).
He explained that the budget also complied with the National Format and Chart of Accounts, aimed at improving the quality of financial reporting in line with the International Public-Sector Accounting Standards (IPSAS).
Governor Bala Mohammed stated that the 2025 Budget has been predicated on the assumptions of an oil production projection of 2.06 million barrels per day; a bench mark oil price of 75 US dollars per barrel; an exchange rate of N1,400 to the US dollar.
He said that the 2025 budget of Bauchi is prepared on assumption of an improved level of revenue accruals into the Federation Account; and an improved and efficient system of internally generated revenue collection.
The Bauchi Governor disclosed that his Government has in the course of the preparation of the Budget, resolved to ensure the completion of on-going projects, propose new projects only on the basis of critical need and the immediate impact they would make.
He added that the budget is also aimed at reducing non-essential overheads, implementation of the new minimum wage and Contributory Pension Scheme in the State, as well as compliance with Budget guidelines issued by the Nigerian Governors Forum to ensure peer review and comparability.
He said other consideration of the budget include, compliance with debt servicing and repayment agreements in fulfilment of our obligations and targeting favourable sources of Capital Receipts and financing such as Aids & Grants, among others.
In the 2025 budget estimate, the sum of N465,085,248,317.12 has been Budgeted for Capital and Recurrent services, which comprises of Recurrent Expenditure of N182,743,925,931.60 representing 39.3% while Capital Expenditure receives the sum of N282,341,322,385.52 which represents 60.7%.
Bala Mohammed said that the 2025 proposed Budget is 18% higher than that of the 2024 as well as the Supplementary Budget considered by the House within the year, attributing the increase to the increased revenue arising from the reforms embarked upon and the upward inflationary trends associated with the depreciating state of the local currency.
Bala Mohammed disclosed that the process of the preparation of the budget has been all inclusive, added that Budget Public Hearings were conducted in the three Senatorial Zones of the state where inputs from Stakeholders were elicited and incorporated into the Budget proposal.