Borno bugdets 178.5 billion for 2014

The Borno state government has budgeted the sum of 178.5 Billion Naira for its Capital and Recurrent Expenditure for its services in the year 2014.

Governor Kashim Shettima who presented the Budget to the State House of Assembly in Maiduguri on Tuesday said, "the Budget Christened Budget of Consolidation and Progress is aimed at completing all ongoing projets and embarking on new ones that have direct impact on the lives of our people and endure even development of the state".

"We shall continue to work round the clock by supporting our wonderful secutity agencies and youth volunteers , adopting numerous other strategies and offering collective prayers. Our ultimate aim is to regain peace and stability so that, among other things, we can create conducive environment for the establishment of cottage industries in the rural areas, where we still have instances of security challenges "he said.

"We shall explore ways of generating revenue to fund our projects while maintaining prudence, accountability and transoarency in the management of public resources"he said.

The governor therefore proposed a total budget sum of 178, 500, 582, 000.00 Naira for the 2014 fiscal year. This comprise of recurrent expenditure of 56, 716, 513, 000.00 Naira and Capital expenditure of 121, 784, 069, 000.00 Naira.

He said the budget is expected to be financed from a statutory allocation of 139, 897, 818, 000.00 and internally generated revenue of 30, 783, 287, 000.00 Naira while Capital recieots for the year is estimated at 121, 784, 069, 000.00 Naira.

Governor Kashim Shettima also said that government intends to deploy a holistic approach on the implementation of its developmental projects and programmes so as to achieve the desired targets of not only revamping the economy but also making Borno State one of the greatest and most viable federating units in Nigeria.