— Priority given to Education, Health, Security and Governance
Emmanuel Awari-Jalingo
Taraba state Governor, Dr. Kefas Agbu on Friday presented the budget sum of N311,388,525,661.96 to the state House of Assembly in Jalingo for the 2024 fiscal year, with Education, Health Security and Governance as areas to be given priority.
“Mr. Speaker, the budget I am about to present today is not just a financial document; it is a blueprint for the future of Taraba. It reflects our collective vision for a state that is economically vibrant, socially inclusive, and environmentally sustainable”.
He said that the 2024 Budget Estimates of the state aims to foster sustainable growth, social development, Agriculture and rural development, infrastructure development, Governance, and public financial management.
“The preparation of the 2024 Budget was guided by the following macroeconomic variables as determined by the Federal Government:
International oil price benchmark of $73.96 per barrel,
Oil production quota of 1.78 million barrels per day,
United States Dollar exchange rate to N700,
Inflation rate of 21% and
A GDP growth rate of 3.76%.
“Mr. Speaker, Honourable Members, for the State services in the 2024 fiscal period, the Government has estimated the sum of Three Hundred and Eleven Billion, Three Hundred and Eighty-Eight Million, Five Hundred and Twenty-Five Thousand, Six Hundred and Sixty-One Naira, Ninety-Six Kobo (₦311,388,525,661.96) only.
The Governor said that the projected revenue of Three Hundred and Eleven Billion, Three Hundred and Eighty-Eight Million, Five Hundred and Twenty-Five Thousand, Six Hundred and Sixty-One Naira, Ninety-Six Kobo (₦311,388,525,661.96) only comprises of an Opening Balance of Three Billion, Five Hundred Million Naira, Zero Kobo (₦3,500,000,000.00) only representing 1.2%, Independent Revenue estimate of Twenty-Seven Billion, Eight Hundred and Thirty Million, Four Hundred and Thirty-Nine Thousand, One Hundred and Twenty-Four Naira, Ten Kobo (₦27,830,439,124.10) only representing 8.9%, Government Share of FAAC (Statutory Revenue including Value Added Tax) of One Hundred and Ten Billion, Four Hundred and Twenty-Eight Million, Nine Hundred and Sixty-Seven Thousand, One Hundred and Ninety-Two Naira, Thirty-Eight Kobo (₦110,428,967,192.38) only representing 35.5%, Aids and Grants of Twenty-Three Billion, One Hundred and Thirty-Six Million, One Hundred and Ninety-Nine Thousand, Three Hundred and Forty-Six Naira, Sixty-Six Kobo (₦23,136,199,346.66) only representing 7.4%, Capital Development Fund (CDF) Receipts of One Hundred and Forty-Six Billion, Four Hundred and Ninety-Two Million, Nine Hundred and Nineteen Thousand, Nine Hundred and Ninety-Eight Naira, Eighty-Two Kobo (₦146,492,919,998.82) only representing 46.4%, while the independent revenue collected is estimated at Twenty-Seven Billion, Eight Hundred and Thirty Million, Four Hundred and Thirty-Nine Thousand, One Hundred and Twenty-Four Naira, Ten Kobo (₦27,830,439,124.10) only in 2024.
He said that for the State to push up her collection effort over and above this estimate, government will ensure that all revenue collecting MDAs are given incentives that will make them quadruple their collection efforts.
He urge Taraba State Internal Revenue Service to ensure that this is done through enhanced monitoring and safeguards to check leakages.
The total Recurrent Expenditure is estimated at One Hundred and Eleven Billion, Six Hundred and Seventy-Nine Million, Five Hundred and Ninety-Five Thousand, Three Hundred and Fifty-Eight Naira Fifty-Nine Kobo (₦111,679,595,358.59) only representing 35.9%.
“This is made up of total Personnel Cost of Fifty-Six Billion, Six Hundred and Fifty-Nine Million, Eight Hundred and Eighty Thousand, Three Hundred Naira, Forty-Eight Kobo (₦56,659,880,300.48) only and Other Recurrent Costs of Fifty-Five Billion, Nineteen Million, Seven Hundred and Fifteen Thousand and Fifty-Eight Naira, Ten Kobo (₦55,019,715,058.10) only.
According to him, the 2024 Budget has a capital expenditure estimate of One Hundred and Ninety-Nine Billion, Seven Hundred and Eight Million, Nine Hundred and Thirty Thousand, Three Hundred and Three Naira, Thirty-Seven Kobo (₦199,708,930,303.37) only representing 64.1% with the following sectoral allocations in accordance with the classifications of National Chart of Accounts:
Administration: Twenty-Nine Billion, Six Hundred and Seventy-Nine Million, Eight Hundred and Twenty-Five Thousand, One Hundred and Twenty-Six Naira, Sixty-Five Kobo (₦29,679,825,126.65) only representing 14.9%.
Economy: One Hundred and Fourteen Billion, Two Hundred and Twenty-Five Million, Five Hundred and Thirty Thousand, Six Hundred and Ninety-Five Naira, Eighty-Five Kobo (₦114,225,530,695.85) only representing 57.2%.
Law and Justice: Four Billion, and Eleven Million, Three Hundred and Ten Thousand, Three Hundred and Sixty-Two Naira, Zero Kobo (₦4,011,310,362.00) only representing 2%.
Social Services: Fifty-One Billion, Seven Hundred and Ninety-Two Million, Two Hundred and Sixty-Four Thousand, One Hundred and Eighteen Naira, Eighty-Seven Kobo (₦51,792,264,118.87) only representing 25.9%.
He pointed out that his administration came on board with five (5) fingers mantra of Education, Security, Women and Youth empowerment, Infrastructure development and Health.
“The 2024 Budget of the State will place specific emphasis on the following key areas.
“Education is the bedrock of any progressive society. To this end, a substantial portion of the 2024 budget is dedicated to the education sector. We aim to enhance infrastructure in schools, improve teachers training, and invest in educational technology to ensure our youth receive the best possible education.
“The well-being of our citizens is of paramount importance. The budget includes significant allocations to strengthen our health care system, improve facilities, and enhance the welfare of healthcare professionals. We are committed to ensuring accessible, affordable and quality healthcare services for all Tarabans.
“Agriculture remains the backbone of our economy. We will continue to invest in modern agricultural practices, provide support to farmers, and develop agricultural business initiatives. Our goal is to enhance Food Security, increase agricultural productivity, and create employment opportunities in the sector.
“We will work towards creating a conducive environment for responsible mining activities, ensuring that the sector contributes to economic growth while prioritizing environmental conservation.
“The budget includes allocation for the construction and maintenance of roads, bridges, and other critical infrastructure projects. We believe that improved infrastructure will stimulate economic activities, enhance connectivity, and improve the overall quality of life for our citizens.
On security, he said,
“The safety and Security of our citizens are non-negotiable. Adequate resources have been allocated to strengthen our Security apparatus, enhance the capacity of law enforcement agencies, and implement Community based initiatives to ensure a safe and secure environment for all.
“I am pleased to announce that five percent (5%) of the total 2024 budget has been allocated to a special initiative: The Greening Taraba Project. This project is a testament to our dedication to preserving the natural beauty of our state, enhancing our ecological balance, and mitigating the impact of climate change.
“The Greening Taraba Project will focus on initiatives such as afforestation, reforestation, and environmental conservation.
“We recognize that a healthy environment is fundamental to the well-being of our citizens and the overall prosperity of our state.
“This project will not only contribute to the preservation of our rich biodiversity but will also create employment opportunities, stimulate economic growth, and improve the quality of life for our people.
“Together, we will work towards building a greener, cleaner, and more sustainable Taraba for generations to come.
According to him, government institutions will be strengthened. We will also promote transparency, accountability, and effective public financial management to ensure efficient resource allocation and utilization.
The Governor gave the breakdown of allocation to each sector to include,
Education
Forty – Three Billion, Two Hundred and Eight Million, Two Hundred and Seventy – Eight Thousand, Eight Hundred and Forty – Nine, Twenty – Nine Kobo
(43,208,278,849.29)
13.9, Health
Thirty-Three Billion, Fifty – Four Million, Six Hundred and Eighty – Six Thousand, Eight Hundred and Forty – Eight Naira, Four Kobo (33,054,686,848.04)
10.6, Works and Infrastructure Development
Twenty – Four Billion, Eight Hundred and Four Million, Two Hundred and thirty – Two Thousand, Two Hundred and Fifty – Three Naira, Seventeen Kobo
(24,804,232,253.17)
8.0, Agriculture and Food Security
Eighteen Billion, Eight Hundred and Fifty – Three Million, Eight Hundred and Fifty – Two Thousand, Eighty – One Naira, Forty – Five Kobo (18,853,852,081.45)
6.1, Energy
Twenty Billion, One Hundred and Twenty-Eight Million, Six Hundred Eighty-Four Thousand Eight Hundred and Four Naira Eighty-Seven Kobo. (20,128,684,804.87)
6.5, Environment
Sixteen Billion Three Hundred and Three Million Six Hundred and Two Thousand One Hundred and Fifty-Six Naira Sixteen Kobo.
(16,303,602,156.16)
5.2, Security
Eight Billion Nine Hundred and Fifteen Million Four Hundred and Thirty-Nine Thousand Four Hundred and Sixty Naira Fifty-Nine Kobo (8,915,439,460.59)
2.9, Finance
Thirty-Four Billion One Million Four Hundred Ninety-Eight Hundred and Thirty-One Naira Sixty-Five Kobo (34,001,498,831.65)
10.9 and Commerce, Trade and Industry
Eight Billion Four Hundred 7 Sixty-Nine Million Eight Hundred Twenty-Eight Thousand Eight Hundred Sixty Naira Eighty Kobo
(8,469,828,869.80)
2.7. Others are Women Affairs and Child Development
Three Billion Two Hundred and Ninety Million Four Hundred Fifty-Seven Thousand One Hundred Eighty-Six Naira Thirty-Five Kobo
(3,290,457,186.35)
1.1, Youth and Sport Development
Two Billion Six Hundred and Forty-One Million Two Hundred Eighty-Eight Thousand Seven hundred and Sixty-Two Niara Fifty Kobo (2,641,288,762.50)
0.8, Governance
Sixty-Five Billion Five Hundred Twenty-Four Million Eighty-Eight Thousand Six Hundred and Twenty-Six Naira Seventy-Two Kobo
(65,524,088,626.72)
21.0, Cooperative and Poverty Alleviation
Two Billion Three Hundred and Ninety-Seven Million Four Hundred Forty-Two Thousand Five Hundred and Fifty Naira Ninety-Six Kobo
(2,397,442,552.96)
0.8, Waste Management
Two Billion Nine Hundred Sixty-Four Million Nine Hundred Four Thousand Nine Hundred and Sixty-Four Naira (2,964,964,964.00)
1.0, Water and Aquatic Affairs
Seven Billion Six Hundred and Seventy-Five Million Seven Hundred and Ninety-Four Thousand Two Hundred Ninety-Three Naira Fifty-Nine Kobo
(7,675,794,293.59)
2.5, Transport Development
Five Billion Four Hundred and Thirty-Four Million Eight Hundred Thirty-Seven Thousand Eight Hundred and Thirty-Three Naira Fifteen Kobo
(5,434,837,833.15)
1.7 and Others
Thirteen Billion Seven Hundred and Nineteen Million Five Hundred and Forty- Seven Thousand Two Hundred and Eighty-Seven Naira Sixty-Seven Kobo
(13,719,547,287.67)
4.4
TOTAL
Three Hundred and Eleven Billion, Three Hundred and Eighty-Eight Million, Five Hundred and Twenty-Five Thousand, Six Hundred and Sixty-One Naira, Ninety-Six Kobo (311,388,525,661.96)
100
Governor Kefas said that the 2024 Budget of the State strives to advance the State’s socioeconomic development agenda through strategic investments in education, infrastructure, healthcare, agriculture, security, and governance.
“By prioritizing these sectors and implementing prudent financial management practices, the State will achieve sustainable growth, improve service delivery, and enhance the overall well-being of our people.
He express his profound gratitude for your continuous support and cooperation in efforts to improve the wellbeing of Tarabans.
“It is therefore, with great pleasure, that I lay before this Honourable House the 2024 Taraba State Appropriation Bill that I titled the “BUDGET OF MOVING FORWARD” to the tune of Three Hundred and Eleven Billion, Three Hundred and Eighty-Eight Million, Five Hundred and Twenty-Five Thousand, Six Hundred and Sixty-One Naira, Ninety-Six Kobo (₦311,388,525,661.96) only.
“I call upon the honorable members of the State House of Assembly to consider and deliberate on the 2024 budget, with the understanding that it represents a collective commitment to the well-being and future of our state. Together, let us continue to strive for excellence, innovation and progress – he said.
Earlier, the Speaker of the State House of Assembly, Rt. Hon. John Kizito Bonzena, promise an accelerated Legislative action for the passage of the Bill into law to ensure that it maintain the January to December Budget circle that has been in existence.
“I therefore call on all Heads of Ministries, Departments and Agencies to be available for the Defense of their estimates when called upon – he said.