How we plan to fund Katsina 2025 proposed budget
- Katsina City News
- 29 Nov, 2024
- 109
Government House, Katsina
Press Release
Katsina Budget Commissioner
Katsina State has unveiled a N682.2 billion budget for the 2025 fiscal year. This represents a significant 40% increase from the previous year's budget. The government aims to use these funds to drive development and improve the lives of its citizens.
Alhaji Bello H. Kagara, the State Commissioner for Budget and Economic Planning, gave a breakdown of the proposed budget during a press briefing held at Sa'idu Barda House in Katsina on Tuesday.
A breakdown of the budget as provided by Kagara, shows that capital expenditure got a significant portion of 76.85% (N524.3 billion) of the total budget which will be spent on long-term projects and infrastructure development.
The Budget Commissioner further disclosed that recurrent expenditure got the remaining 23.15% (N157.9 billion) which will be used to cover day-to-day government operations, including salaries, pensions, and other operational costs.
Kagara revealed that to fund this ambitious budget, the state government will leverage a combination of revenue streams from Internally Generated Revenue, Federal Allocations and Capital Receipts. The Budget Commissioner noted that Governor Radda's administration has prioritized balanced development, with revenue streams including, Internally Generated Revenue of N64.4 billion, a Federal Accounts Allocation commanding N316.9 billion and Capital Receipts to the tune of N280.9 billion.
The Budget Commissioner explained that the economic sector will receive a substantial allocation of N302.2 billion (44.3%) which is the largest shares to boost economic growth, job creation, and industrialization in the state. This is followed by the
Social Sector with a N275.5 billion (40.4%) earmarked for social services, including healthcare, education, and social welfare programmes. Similarly, Kagara said the administrative sector is allocated a N98.3 billion (14.4%) to fund government administrative functions while
N6.2 billion (0.9%) is set aside for the law and justice sector.
On key ministerial allocations, Kagara explained that the Ministry of Education has N96 billion (14%), Ministry of Agriculture and Livestock Development N81.8 billion (12%), Ministry of Works, Housing and Transport: N59.7 billion (8.5%), Ministry of Rural and Social Development 62,7 billion (9%), Ministry of Water Resources 53.8 billion (8.6%), Ministry of Environment 49.8 (9.3%), Ministry of Health 43.8 billion (8.8%), Ministry of Internal Security and Home Affairs 5.2 billion (1.2%) and Others 315.1 (42.6%).
"This budget is a testament to our unwavering commitment to transparency and strategic governance," Kagara noted while highlighting the government's dedication to accountability.
Ibrahim Kaula Mohammed
Chief Press Secretary to the Governor of Katsina State
28th November, 2024