Gombe State Governor, Muhammadu Yahaya, on Tuesday presented 2025 fiscal estimate of N320,110,000,000.00 to the state House of Assembly.
Yahaya allotted N111,087,215,000.00 for recurrent expenditure, representing 34.70 per cent and N209,022,785,000.00 for capital expenditure representing 65.30 per cent of the 2025 estimate.
Our correspondent reports that 2025 budget has N138,040,600,000.00 for Economic Sector, for social sector N58,866,185,000.00 was budgeted, General Administration Sector has N9,008,000,000.00 and Law and Justice sector has N3,108,000,000.00.
He said, “Honourable Speaker, Honourable members, distinguished guests; in our efforts to address the developmental aspirations of the people of Gombe State in the 2025 fiscal year, I hereby present a proposed budget of N320,110,000,000.00 only.
“Out of this, N111,087,215,000.00 is allocated for recurrent expenditure, accounting for 34.70 per cent, while N209,022,785,000.00 is earmarked for capital expenditure, representing 65.30 per cent of the total budgeted sum.”
The governor aims to generate N160.27 billion as recurrent revenue and N71.52 billion as capital receipts, with an estimated closing balance of N11.68 billion for 2024.
Revenue sources include Internally Generated Revenue of N25.02 billion, Statutory Allocation of N15 billion, Government share of VAT of N60 billion, and Other FAAC receipts of N60.25 billion.
Recurrent expenditure will cover personnel cost of N30.23 billion, overhead cost of N35.2 billion, social benefits of N8.03 billion, debt repayments of N37.23 billion, and grants and subsidies of N402.2 million.
Capital receipts will come from opening balance of N100 billion, transfer from consolidated revenue fund of N149.18 billion, domestic grants of N15.72 billion, external grants of N5.3 billion, external credit of N39 billion, and domestic borrowings of N7 billion.
Speaking further Yahaya continued saying “In 2025 fiscal year, we plan to generate the sum of N160,270,745,000.00 only as recurrent revenues, and the sum of N71,520,000,000.00 only as capital receipts, while our estimated closing balance for 2024 is expected to be N11,680,745,000.00 only.”
Yahaya added that the 2025 budget has been crafted in alignment with local, national, and global economic realities, “prioritising the developmental needs of our people while emphasising sustainability, equity, and inclusiveness. It reflects our commitment to fostering growth, providing opportunities, and addressing pressing challenges in key sectors of the economy,” he added.
On his part, Speaker Abubakar Luggerewo assured the governor of members’ support, adding that the budget will be expedited.
