Governor Kashim Shettima of Borno State has presented a budget of N130.6 billion for 2012 to the state House of Assembly.
He also declared state of emergency on the education sector in the state, adding that his government intended to spend N14.3 billion to revamp the education sector.
The Borno 2012 financial blueprint, which was tagged “Budget of Infrastructure Development and Economic Transformation”, has a total estimation of N43.7 billion as recurrent expenditure and N86.8 billion was earmarked for capital expenditure.
The budget, if passed by the Assembly, is expected to be financed from the statutory allocation of N84.2 billion, and internally generated revenue of N28.9 billion, while capital receipts for the year was estimated at N86.8, giving a recurrent surplus of N69.5 billion.
He also declared a state of emergency in the education sector by closing some public schools, which are to undergo comprehensive renovation.
The Appropriation Bill, tagged Budget of Infrastructural Development and Economic Transformation, was presented at the floor of the state House of Assembly and later handed over to the Speaker, Mr. Goni Modu for deliberation.
N43.7 billion was earmarked for recurrent expenditure, while N86.8 billion is for capital expenditure.
The bill, Shettima said, is expected to be financed from the Statutory Allocation of N84.2 billion, and internally generated revenue of N28.9 billion, while capital receipts for the year is estimated at N86.8, giving a recurrent surplus of N69.5 billion.
Shettima, while giving a breakdown of the sectoral budget to the various ministries, said N14.2 billion has been allocated to education.
Borno State budgets N130b for 2012.