BREAKING NEWS BAUCHI STATE BUDGET 2024 REVIEW TO 2025 PROPOSE BUDGET 2024 BUDGET IMPLEMENTATION PERFORMANCE

Breakdown of the 2024 Budget Review and 2025 Proposed Budget

2024 Budget Implementation Performance (as of September 2024)

1. Revenue Performance  
   - Recurrent Revenue:  
     - Projected: ₦256.33 billion  
     - Achieved: ₦149.10 billion (58.2%)  
   - Capital Receipts:  
     - Projected: ₦133.02 billion  
     - Achieved: ₦119.31 billion (89.7%)  

2. Expenditure Performance  
   - Recurrent Expenditure:  
     - Projected: ₦179.80 billion  
     - Spent: ₦131.03 billion (72.9%)  
   - Capital Expenditure:  
     - Projected: ₦215.09 billion  
     - Spent: ₦71.35 billion (33.2%)  

3. Overall Implementation  
   - Total Budget Implementation: 51.2% 

2025 Proposed Budget Highlights

1. Total Budget Size: ₦465.09 billion  
   - Recurrent Expenditure: ₦182.74 billion (39.3%)  
   - Capital Expenditure: ₦282.34 billion (60.7%)  

2. Revenue Estimates  
   - Opening Balance: ₦16.99 billion  
   - Recurrent Revenue: ₦273.06 billion  
     - Internally Generated Revenue (IGR): ₦50.03 billion  
     - Statutory Allocation: ₦42.03 billion  
     - VAT: ₦78.50 billion  
     - Other FAAC Revenue: ₦102.50 billion  
   - Capital Receipts: ₦172.44 billion  
     - Aids & Grants: ₦27.63 billion  
     - Bonds: ₦30 billion  
     - Other Capital Receipts: ₦114.81 billion  

3. Expenditure Allocation  
   - Recurrent Expenditure: ₦181.24 billion  
     - Personnel Cost: ₦67.99 billion  
     - Overhead Cost: ₦113.25 billion  
   - Capital Expenditure: ₦282.34 billion  

4. Sectoral Allocation  
   - Administrative Sector: ₦69.94 billion  
   - Economic Sector: ₦219.51 billion  
   - Law & Justice Sector: ₦9.54 billion  
   - Social Sector: ₦166.10 billion  

Key Policy Directions and Assumptions

1. Economic Assumptions  
   - Oil Production: 2.06 million barrels/day  
   - Oil Price Benchmark: $75/barrel  
   - Exchange Rate: ₦1,400/USD  

2. Focus Areas  
   - Completion of ongoing projects.  
   - Reduction in non-essential overheads.  
   - Implementation of new minimum wage (₦70,000).  
   - Adoption of Public-Private Partnerships (PPPs) for capital projects.  

3. Social Protection
   - Scaling up social protection programs to address the rising cost of living.  
   - Implementation of the contributory pension scheme.  

4. Development Goals  
   - Boosting IT and digital economy.  
   - Strengthening agriculture through technology and private-sector collaboration.  
   - Supporting infrastructure development in roads, education, and healthcare.

@NewMediaDirectorate

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