Abuja, Dec. 29, 2023: State governors in Nigeria have started churning out appropriation laws that will guide their economic policies in 2024.
Governor Umo Eno of Akwa Ibom assented to the 2024 appropriation bill of N849.97 billion law with a pledge to increase the revenue generation drive of the government.
Eno made the budget law at an expanded Executive Council meeting held at Government House, Uyo, on Thursday.
The final budget size of N849.970 billion, signed into Law, was passed by the Akwa Ibom House of Assembly on Dec. 21, indicating an increase of N4.3 billion from the initial sum of N845.63 billion.
The governor stressed the need to pay greater attention to revenue generation in the 2024 fiscal year than spending.
Gov Kabir Yusuf of Kano State also signed into law, the sum of N437 billion as 2024 budget with an assurance to judicious utilisation of the state funds in accordance with global best practices of public financial management.
The appropriation bill was signed after being passed by the state House of Assembly recently.
He said that the budget comprised 64 per cent capital expenditure and 36 per cent recurrent.
The signed budget is tagged “Budget of Restoration and Transformation”.
The governor assured the people of the state that the budget would be utilized judiciously for the benefit of the populace.
“I want to guarantee that allocating 64 per cent of the budget to capital projects and 36 per cent to recurrent expenditure will positively impact the lives of the citizens.
“The total budget estimate that has been ratified today amounts to N437.3 billion with 64 per cent allocated to capital projects totaling N379,835,94,351, and recurrent expenditure totaling N456,503,218,483.73.
“Today, we witnessed the ratification of the 2024 budget, which was presented to the Kano State House of Assembly three months ago,” he said.
Gov. Biodun Oyebanji of Ekiti signed into law the N159,572,481,915.51 2024 appropriation bill with an assurance that his administration would fully implement the budget for the prosperity of the people.
The 2024 Appropriation, Christened “Budget of Sustainable Growth and Development” was presented to the governor by the speaker of the State House of Assembly, Mr Adeoye Aribasoye and other principal officers at the Governor’s Office, Ado Ekiti.
The 2024 budget estimate of N159,572,481,915.51 has 56 per cent allocated for recurrent expenditure while 44 per cent for capital expenditure.
Oyebanji reiterated his administration’s determination to ensure that the budget was fully implemented to drive sustainable growth and improve the standard of living of the people of Ekiti State.
Also Gov. Alex Otti of Abia on Thursday assented to the 2024 Appropriation Bill of N567.2 billion into an Act.
In a speech at the brief event, which held at Nvosi in Isiala Ngwa South Local Government Area, Otti said that the budget would stimulate the economy and boost socio-economic development of Abia.
He said that the budget had been designed to take the state out of underdevelopment, secure its next level of development and promote economic stability in Abia.
“The next few years will be Uhuru for all our people, those living here, those from here and our friends.
“It is not in error that we devoted 84 per cent of the budget to capital expenditure.
“As you went through the budget, you will find that every kobo we intend to borrow will go into infrastructure, they are all mapped out for infrastructure.
“We believe that as we require the funding we will get it.
“It is a budget that will spur investments both foreign and local and secure the state for the next level of development,” the governor said.
The governor of Jigawa state, Mr. Umar Namadi, on Thursday in Dutse signed the 2024 Appropriation Bill of N298.140 billion into law.
The development came barely one week after the state House of Assembly passed the bill.
The governor lauded the synergy between the executive and the legislature, adding that the gesture resulted in the smooth passage of the bill.
He said the estimate was being prepared to serve the people of the state, adding that he assented to the bill sequel to legislative approval.
“We are signing our first appropriation bill into law after scrutiny by Jigawa State House of Assembly.
“And, I was told by many heads of MDAs and extra- ministrial departments the kind of scrunity the underwent before the assembly.
“So, I urge the House to use its oversight functions to ensure that the budget is used as planned and approved.
“Also, this budget is fine after thorough consultations with many stakeholders and citizens of the state.
“So it’s people’s budget. And what is in it is what would be implemented for the betterment of our people,” the governor said.
Gov. Bala Mohammed of Bauchi State on Thursday signed the 2024 budget of N300 billion into law.
Mohammed had presented the budget to the state House of Assembly for approval on Nov. 30.
Presenting the proposals tagged, “Budget of Consolidation and Renewed Focus,” he assured members of the house that the budget would be fully implemented.
Mohammed lauded the speaker and members of the State House of Assembly for the timely passage of the budget, and appreciated them for their commitment and effective scrutiny of the budget.
“I have followed with keen interest, the legislative processes which ensured that all MDAs were invited and a thorough appraisal of their submissions was made.
“I must also add that the honourable members have had no break since the day we presented the budget till the final consideration was made,” said the governor.