Bauchi State Governor, Bala Mohammed, has presented a budget proposal of N465 billion for the 2025 fiscal year to the House of Assembly for approval.
The proposed budget, tagged ‘Consolidation and Sustainable Development’, has recurrent expenditure of N182,743,955,931 (39.3 percent), while capital expenditure got N282,341,322,335 (60.7 percent) of the total proposal.
According to the governor, the proposed 2025 budget is 18 percent more than the ongoing 2024 budget.
Speaking during the presentation of the budget at the State House of Assembly on Thursday, the governor said the budget is based on a crude oil production target of two million barrels per day and an exchange rate of $1 to N1,400.
According to him, despite economic growth and improved oil production, high inflation, unemployment and widespread poverty persist in the state, and the country at large.
He promised continued efforts to ease the challenges faced by the people.
Mohammed expressed concern over Nigeria’s economic challenges, calling for urgent measures to ease the impact on citizens.
He said Inflation reached 32.7 percent in September 2024, while over 200 local businesses shut down in the past year due to tough economic conditions in the country.
The governor urged the Federal Government to provide stronger support, including cash aid and food relief, and to collaborate with the private sector to boost industries like agriculture and exports.
He also stressed the need for fair tax reforms and better public spending to rebuild trust with citizens.
The governor also called for reforms to be implemented with empathy, ensuring policies are communicated clearly and address the needs of vulnerable Nigerians.
The Speaker of the Assembly, Abubakar Sulaiman, pledged a thorough and speedy review of the proposal while commending the cooperation between the executive and legislature.
Bauchi: Gov Mohammed presents N465bn 2025 budget to Assembly