The governor says he would not leave a debt burden for his successor.
On Wednesday, Borno State Governor Babagana Zulum presented a budget of N340 billion for the 2024 fiscal year.
The highlight of the budget proposal was the allocation of N51 billion to health, N39 billion to education, and N45 billion to work.
The governor allocated N198 billion for capital expenditure while N142 bn was for recurrent expenditure.
Mr Zulum told the House of Assembly that the budget is designed to be financed through recurrent revenue of N206.8 billion, which includes FAAC revenue and IGR, and N128.8 billion in capital receipts, including Aid, Grant, and capital development funds.
While presenting the proposal, Mr Zulum said he would not leave a debt burden for his successor as he plans to clear all debts before leaving office in 2027.
”As we are gradually exiting from office, I plan to ensure that, insha’Allah, I’ll leave a clean slate to the incoming administration. I want to ensure that we pay all debts so that anybody who is taking over from me will have a clean slate to begin. May Almighty in his mercy, help us,” Zulum said.
”This fiscal strategy will ensure our budget’s sustainability and enable us to meet our obligations. Our aim is to consolidate our gains in these sectors and catalyze progress across the state,” the statement quoted Mr Zulum.
He unveiled 46 strategic projects for the 2024 fiscal year including the construction of Eye and Dental hospitals in Monguno and Biu; teachers’ and health workers’ quarters in various towns, and the establishment of high Islamic colleges in Baga, Gajiganna, Gajiram, Benisheik, Gwoza, and Chibok.
Mr Zulum also outlined plans for infrastructure development, including the construction of government lodges, ICT centres, and mega-water works in various locations.
The governor said the projects would improve the lives of citizens and stimulate economic growth across the state.