By Rabiu Sani
Gov. Babagana Zulum of Borno on Monday presented N134.5 billion appropriation bill for the year 2020 before the state House of Assembly for consideration.
News Agency of Nigeria (NAN) reports that the bill tagged “Budget of Recovery and Stabilization” was less than the N144 billion budgeted for 2019, representing about 7.5 per cent decrease.
Zulum disclosed that the bill consist of N67.54 billion recurrent expenditure, representing 50.37 per cent and N66.96 billion capital expenditure, representing 49.7 per cent of the total budget size.
He said that the budget would be funded through N14.2 billion revenue and N66.9 capital receipts, adding that N99.2 billion was for recurrent revenue and N31.69 billion capital receipts.
The governor explained that his administration had adopted bottom-top approach to generate basic and fundamental inputs from the grassroots in the formulation and preparations of the budget.
Zulum noted that the…
Source: News Agency of Nigeria