By Our Correspondent
The Katsina State Government has revealed its proposed budget for 2024, totaling N454.3 billion, with Agriculture emerging as the sector receiving the least priority in allocated capital spending.
Presenting the breakdown of the Katsina 2024 budget tagged “Building Your Future,” the Commissioner Ministry of Budget and Economic Planning, Alhaji Bello Kagara, disclosed the allotted percentages during a press conference held at the Old Katsina Government House on Monday.
Comparatively, the 2024 Budget proposal marks a substantial increase of N153.68 billion (51.11%) from the 2023 budget, Kagara noted.
Water Resources and Education received the highest funding allocation, securing N67.16 billion (20.35%) and N66.42 billion (20.13%), respectively. Works followed closely with an allocation of N53.48 billion (16%).
Health and Environment also garnered substantial attention, receiving N38.33 billion (11.62%) and N37.70 billion (11.43%) in allocated funding, respectively.
Contrastingly, Agriculture trailed with an allocation of N20.51 billion, constituting 6.21% of the total capital expenditure, indicating its position as the sector receiving the lowest priority in the budget allocation.
Out of the total estimated budget of N454.3 billion, Kagara revealed that 72.63% (N329.98 billion) is designated for capital expenditure, while 27.37% (N124.33 billion) is allocated for recurrent expenditure.
He gave the breakdown for recurrent expenditure as follows:
- Personnel cost/CRF Salaries: N38.56 billion
- Pension and Gratuity: N17.91 billion
- Other Recurrent Expenditure (debt servicing, self-sustained revenue, overhead cost): N67.86 billion, totaling N124.33 billion.
Kagara also presented the proposed budget for the state’s capital expenditure for the year 2024 as follows:
- Economic Sector: N191.73 billion
- Social Sector: N112.75 billion
- Administration: N23.87 billion
- Law and Justice: N1.63 billion, totaling N329.98 billion.
Kagara noted that the state government hope to finance the 2024 budget through the following resources:
N15 billion opening balance,
N40 billion estimated Internally Generated Revenue (IGR) in 2024, N148.06 billion Share of Government Federal Accounts Allocation Committee (FAAC). Others are N251.25 billion estimated Capital Receipts including aids, grants, and the Capital Development Fund.
Vanguard