Presenting the budget tagged “Budget of Renewed Commitment,” Mr Sule said it was made up of N112 billion recurrent expenditure, representing 56 per cent, and N86 billion capital expenditure, representing 44 per cent.
The governor said that the budget was aimed at completing ongoing projects as well as initiating new ones for the overall development of the state.
Mr Sule said that his administration’s programs would continue to be anchored on transparency, accountability, and the rule of law.
“I am delighted to lay before you a total budget size of N199.8 billion for the 2024 fiscal year.
“A total of N112.9 billion, representing 56 per cent of the total budget, is earmarked for Recurrent Expenditure.
“A total of N86,954,019,755.50, representing 44 per cent of the total budget, is set aside as Capital Expenditure for the year 2024,” he said.
Mr Sule said that the administration had prioritised infrastructure development to improve the standard of living of the people.
“The budget for the various sectors is as follows: administrative sector – education N41.9 billion, health N27.5 billion, environment N5.5 billion, local government N6.3 billion, finance N13.1 billion.
“Trade and investment N3.8 billion; ministry of science and technology N1.7 billion; ministry of works – N22.7 billion; water resources N41.9 billion, lands and urban development N8.6 billion; state assembly N4.3 billion, and information, culture, and tourism N2.6 billion,” he said.
Mr Sule assured full implementation of the budget if finally passed into law.
Receiving the budget, the acting speaker of the House, Abel Bala, assured of giving the budget accelerated passage.
Mr Bala appreciated Mr Sule for the good presentation of the budget and congratulated him on his well-deserved meritorious elevation to the status of a fellow of the Nigeria Society of Engineers.
“Your Excellency, during the oversight function, preliminary reports indicate that since the creation of Nasarawa State, Internally Generated Revenue (IGR) has never been high and above projection.
“Infrastructure development has also received a boost, and to this, we commend you most sincerely,” he said.
Mr Sule presented the N148.9 billion 2023 budget to the House on Nov. 22, 2022.