Governor Abba Yusuf Presents N24 Billion 2023 Supplementary Budget

In a bid to address critical financial needs and fast-track the execution of emergency priority projects, Governor Abba Yusuf of Kano State has proposed an additional N24 billion for the 2023 supplementary budget.

The announcement was made during a plenary session at the Kano State House of Assembly, where the speaker, Ismail Falgore, presented the supplementary budget for approval.

The supplementary budget is deemed necessary due to various factors, including anticipated receipts from the Federation Account Allocation Committee (FAAC) in the form of statutory revenue, Value Added Tax (VAT), ecological funds, loans from the Central Bank of Nigeria for Independent Power Projects (IPP), and an increase in Internally Generated Revenue (IGR).

Governor Abba Yusuf outlined the focus areas for the supplementary budget, allocating N4 billion to personnel costs and settlement of gratuity, with an additional N20 billion allocated to capital expenditure.

The emphasis on these sectors is aimed at addressing immediate needs and advancing essential projects in the state.

With the proposed supplementary budget of N58 billion, combined with the initial budget of N324 billion, the overall 2023 budget for Kano State is set to reach N350 billion.

This move supposedly underscores the state government’s commitment to prioritising key areas of development and responding to pressing financial demands.

During the plenary session, the House unanimously agreed to subject the supplementary/amendment budget for 2023 to legislative scrutiny, demonstrating a collective commitment to ensuring financial prudence and accountability.

In a parallel development, the 2024 appropriation bill has successfully passed its second reading in the House.

Source: Peoples Gazette