Buni: I Will Continue to Diversify Yobe’s Economy

Yobe State Governor, Alhaji Mai-Mala Buni has promised to continue to take steps to diversify the economy of the state for sustained growth.

The governor also stated that four new ministries would be created for effective performance and delivery of service to the people of the state.

Buni made the promise during the week, while presenting the 2020 appropriation bill of N108.4 billion. to the State House of Assembly.

The budget, the first by Buni, indicates an increase of N16.7 billion or 15.5 per cent over the budget of N92.2 billion for this fiscal year.

The recurrent expenditure is N58 billion or 53.8%, while capital expenditure is N50.4 billion or 46 5%.

The breakdown showed that education got the largest share, followed by health and then works, with N22.9 billion, N16.1 billion and N12.7 billion, respectively.

The proposed budget is to be funded with treasury opening balance of N2.5 billion, internally generated revenue, N5.4 billion, statutory allocation, N52 billion, value added tax, N12.5 billion, ecological fund, N1 billion, stabilisation fund, N516.6 million, excess crude oil/exchange rate difference, N2.2 billion, grants, N4.3 billion, internal loans, N21 billion, and miscellaneous fund, N7 billion.

The governor, who tagged the budget: ‘Budget of Continuity and Consolidation’, said: “It is about the lives of our people, our values and about our vision, mission, commitment to work hard, sacrifice and resolute determination to move our State forward, to the path of socio-economic prosperity.”