Borno State governor, Prof. Babagana Umara Zulum has announced a total budget of N584, 757, 725, 000 for the 2025 fiscal year.
He made the presentation on Monday at the state House of Assembly.
In the said amount, N380,837,201,000 goes for capital expenditure and N203,920,524,000 for recurrent expenditure.
The budget is expected to be financed through recurrent revenue, including N311,704,193,000 from the Federation Account Allocation Committee (FAAC).
N30,091,742,000 is however coming from internally generated revenue (IGR).
Additionally, the governor, in his budget speed at the Borno State House of Assembly said capital receipts for the year are estimated at N237,961,790,000.
He said the 2025 budget projections are based on the Federal Government’s Fiscal Forecast for the 2025-2027 Medium Term Expenditure Framework (MTEF).
The projections assume a crude oil price benchmark of $75 per barrel, daily production of 1.65 million barrels, a national inflation rate of 15.75%, and a national real GDP growth rate of 4.6% ¹.
More details shortly…
