By NBF News
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The Bauchi State Government has budgeted the sum N111.8billion for its services for the 2011 fiscal year made up of N48.4 billion as recurrent expenditure and N63.4billion as capital expenditure. Presenting the budget to the state House of Assembly, Governor Isa Yuguda said government would raise the capital market to finance some major projects in anticipation of huge revenue coming to its purse.

Yuguda explained that the government would equally partner with private sector to finance its power project, adding that the Power Holding Company of Nigeria's ( PHCN) assets would be sold to state governments and private individuals in the country.

He told the House that the budget recurrent revenue estimate wascomposed of internally generated revenue of N6.3billion and statutory allocation of N53billion, thus making a total of N59.3billion.

The governor explained that the recurrent expenditure had N14.5billion as personnel cost,N21.2billion as overhead cost with a consolidated revenue fund charge of N12.6 billion making a total ofN48billion.

According to the governor, capital receipts comprising of opening of balance, transfer from consolidated revenue fund, internal and external loans and Bauchi State Development Bond had N61.5 billion.

Explaining further on the budget proposal, Yuguda further revealed that pensions and gratuities would consume N2.4billion, public offices salaries N2.1billion while office debt charged and debt services had N8.1 billion.

He gave a budget break down as SSG's office N4.5billion, pilgrims welfare board N12. 6 million, House of Assembly Commission N67.7 million, office of the Head of Service N452 million, Ministry of Economic Planning N3.3 billion, Ministry of Finance N1.3 billion, Internal Revenue Board N126 million, Ministry of Justice N150 million, House of Assembly N719.9 million, Judiciary N463 million, Shariah Court of Appeal N324 million.

The regional development has, Cooperatives and Poverty Alleviation, N174 million, Housing, N535 million, Land and Survey,N549 million, Water Resources,N913 million, State Water Board,N534 million.

Others under Regional Development are WTSAN,N229 million, Environment and Forestry,N284 million, BASEPA,N464 million, Ministry of Rural Development,N3.05 Billion, Ministry of Special Duties,N5.3 billion, State Development Board,N2.6billion.

Yuguda told the lawmakers that the economic sector of the Budget had N19 billion, while the social sector was allocated N17.5 billion.

Governor  Isa Yuguda, described peace as an ingredient of development, saying it was on record that his administration was able to maintain peace among the various ethnic and religious groups in the state.

Receiving the budget, the Speaker of the State House of Assembly, Ahmed Abubakar Faggo said the house would do justice to the budget and commended the executive arm for the numerous achievements it recorded during the preceding year.