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BOSG urges accounting officers on strict compliance to 2024 budget, increases Target of Internally Generated Revenue in the state
BOSG urges accounting officers on strict compliance to 2024 budget, increases Target of Internally Generated Revenue in the state
By Babagana Wakil
The Borno State government has urged all accounting officers and Director finance in the state to operate within the funds approved in the 2924 budget as assented to by Governor Babagana Zulum.
The state commissioner for Budget and Planning, Professor Mustapha Malumbe who made the call Monday at a press briefing with journalists on 2024 approved budget held at the international conference hall of Usman Musa state secretariat Maiduguri said,”this budget is not just about numbers; it embodies a vision for a more prosperous, secure, and equitable future for all. Consolidation underscores Government’s commitment to building upon the successes of the past year,” .
The Commissioner said “the success or otherwise of this policy will largely depend on each and every one of us. I therefore, crave your indulgence to operate strictly within the bounds of the budget so as to achieve the set objectives”
He said the Borno State government has targeted N27.7 billion Internally Generated Revenues (IGR) with a budget performance of between 80 and 90 percent in 2024 fiscal year, stressing that thee improved budget implementation, was attributed to statutory allocation revenue from the Federal Government and payments of ground rents that raised IGR by 25 per cent.
“This budget is not just about numbers; it embodies a vision for a more prosperous, secure, and equitable future for all. Consolidation underscores Government’s commitment to building upon the successes of the past year,” Malumbe said
He also advised the accounting and finance officers to note that the budget document is a set of policy guide which will enable MDAs operate during the 2024 fiscal year, pointing out that, no request for funds not funded in the budget will be entertained.”
Malumbe said the 2024 Budget is saddled with Government’s commitment in Building on the foundation laid in the previous years; this year’s budget tagged “Budget of Consolidation and Progress marks a significant step forward in the shared journey towards achieving long-term goals.”
The commissioner further explained that the State Government will continue to strengthen fiscal discipline, invest in key infrastructure projects, and implement reforms that create a more enabling environment for businesses and individuals to thrive..
” This budget also embodies progress. Government will be making strategic investments in areas critical for sustained growth and development, such as Education, Healthcare, Works and Reconstruction to also champion initiatives that empower vulnerable communities, return of IDPs and bridge the gap between opportunity and disadvantage,” he added.
“”The expenditure proposals for the fiscal year 2024, aims to strengthen the accomplishments achieved so far and further ensure the delivery of democratic dividends, especially in the realms of socio-economic and political development of the State,” the commissioner said.lb
He further explained also that the 2024 Approved Budget was also in line with the ‘State Government’s Medium Term Expenditure Framework’ wq (MTEF 2024 – 2026) approved by the Borno State House of Assembly, the ‘Strategic Transformation Initiative’ (STI) for 2024 and 25-year State Development Plan in an effort of building Borno Back and Better.
He also emphasized on the key objectives and priorities outlined in the MTEF for the current budgeót yea which include amongst others the complete return and resettlement of all IDPs to their ancestral homes, completion of all on-going projects in the State and
He noted that the aim was to ensure food security and also mitigate some of the negative impacts of climate change, thus providing livelihoods for our rural population and to reduce over-dependence on Federal transfers through improved independent revenue generation achievable via a technological-driven and independent Board of Internal Revenue;
Professor Mustapha Babagana revealed that thhis would involve implementation of programmes that generate employment and create wealth and ensure adequate security while comparing the 2023 budget size which was N235,331,950,000.00 and made up of capital expenditures, based on the fiscal forecast and guidelines provided in the Medium-Term Expenditure Framework (MTEF 2023 – 2025) and aligned to the Budget Estimates.
He said the overall 2023 Budget Performance stood at 74.4% and during the 2024 fiscal year government is going to establishment specialized hospitals and schools of Nursing in the three senatorial district of the state. Construction of ICT centers, Government Lodges, teachers and health workers quarters. Procurement of equipment to the State University Teaching Hospital and completion, provision of scholarships to indigenous people to study nursing and midwifery courses and sponsor students in various fields of study, especially Science, Technology, Engineering, and Mathematics (STEM) courses, languages, and training of pilots
He said the 2023 budget is not without challenges, however because of the doggedness of His Excellency and the resilience of the people there was a huge success in implementation of the budget such as challenges security situation of ongoing Boko Haram .insurgency,, economic recovery and Internally displaced persons (IDPs): The large number of IDPs in the state informed additional resources require to alddress the challenges among others.
BOSG urges accounting officers on strict compliance to 2024 budget, increases Target of Internally Generated Revenue in the state
Yobe State EXCO Line Up Projects For Commissiong
By: Mamman Mohammed
The Yobe state executive council at its first meeting of the year today lined up some infrastructural projects completed and ready for commissioning.
Addressing the media after the EXCO Meeting, the state Commissioner for Information, Alh. Abdullahi Bego, said “these projects and programmes cut across many sectors, including healthcare, agriculture, education, road construction and Empowerment.
The council resolved to embark on a major modernization initiative to change the face of Damaturu to a befitting state capital in 2025.
The council expressed confidence that many of the ongoing legacy that will be ready for commissioning soon “include the Potiskum Modern Market, Ngalda and Yunusari markets all of which are currently at 90% stages of completion, and the Geidam Modern Market which is now at 75% completion stage, and the Potiskum Truck Transit Park now at 90 percent completion stage”.
The EXCO noted that the four modern SESAME SEEDS processing factories in Machina, Nguru, Potiskum and Damaturu have been completed and ready for inauguration.
Similarly, the phase one of the Fika-Maluri road has been completed while work on the second phase is ongoing. The Kukuri-Chukuriwa-Dawasa is 95% completed, Karasuwa-Galu- Gashu’a main road is completed.
“The Gashu’a-Masaba road is at 48% completion, Chumbusko-Tagali road is 100% completed, Nguru-Balanguwa is 75% completed, while Balanguwa-Kumaganam is at 60% completion stage.
“Danchuwa-Garin Bingel (100% completed); and the Danchuwa-Jajere road (97% completion stage); with a number of township roads under the first phase in Nguru, Jajimaji, Gashu’a, Potiskum, Damagum, Damaturu, Buni-Yadi, Babban Gida, and Geidam completed.
In the second phase, Nguru township roads were completed 100%; Potiskum and Damaturu are at 80% while Geidam and Gashu’a township roads are now at 40% stages of completion. We also have ongoing township road projects in Fika, Buni-Yadi and Yunusari towns.
The Damaturu-Buni Yadi, Damaturu-Bayamari, Potiskum-Gashu’a, Bayamari-Yunusari, and Geidam-Bukarti roads cut off by the floods last year have been repaired.
“There is also ongoing rehabilitation of Yunusari-Yusufari road; Jajimaji-Karasuwa road; Yunusari-Kafiya-Kanamma road junction.
“The state government is also currently constructing a road from Potiskum to Ngojin and from Fadawa to Daya in Fika Local Government area” the council stated.
The state executive council noted the delivery of healthcare equipment to the state donated by World Medical Relief in the United States.
“These equipment include hospital beds, infusion pumps, patient monitors, surgical instruments and tools, defibrillators, fetal monitors and ventilators, amongst others”.
The EXCO. noted with satisfaction the graduation of the Buni Scholars in India in the face of the economic challenges making the state proud with increase in qualified personnel in various fields.
Yobe State EXCO Line Up Projects For Commissiong
WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050
** As VP Shettima reaffirms Nigeria’s resolve to champion AfCFTA
By: Our Reporter
Vice President Kashim Shettima has joined other world leaders to push for the full implementation of the African Continental Free Trade Area (AfCFTA) with a target to boost Africa’s economy to $29 trillion by 2050.
He restated Nigeria’s readiness to spearhead the AfCFTA and take advantage of the market potential of the sector for digital transformation and economic integration of the African continent.
This is just as the President of the World Economic Forum (WEF), Børge Brende, pointed out the transformative potential of the AfCFTA, projecting that its full implementation could boost Africa’s economy to $29 trillion by 2050.
Senator Shettima and the global leaders declared their nations’ positions on Wednesday during a forum of Friends of AfCFTA on the sidelines of the ongoing 2025 annual meeting of the World Economic Forum (WEF) in Davos, Switzerland.
The Vice President, while addressing the forum tagged, “Forum Friends of AfCFTA: Turning Digital Trade into a Catalyst for Growth in Africa,” reaffirmed Nigeria’s commitment to AfCFTA as a vehicle for shared prosperity.
According to VP Shettima, Africa stands in a unique position to take advantage of global talent deficits, citing a Korn Ferry study that projects a global human talent shortage of more than 85 million people by 2030.
“By 2050, Nigeria’s population will surpass that of the United States, becoming the third most populous nation on earth at 440 million people,” he stated.
Citing Africa’s growing digital landscape, the VP said Nigeria’s technological strength is propelling it into the knowledge age.
“Today, we have 220 million telecom subscribers and 163 million internet users in Nigeria alone. This provides us with immense opportunities to empower our people. While our highest oil export earnings were $35 billion in 2011, India last year earned about $120 billion from outsourcing alone.
“The African Continental Free Trade Area is not only an economic arrangement but a bold statement of our shared destiny,” VP Shettima stated, adding that while Africa may have missed the agricultural and industrial ages, it is positioned to thrive in the post-industrial knowledge age.
On his part, the WEF President, Brende, while welcoming Vice President Shettima and other African leaders to the “Forum Friends of AfCFTA,” said Africa’s demographic advantage presents huge economic opportunities for the continent.
He noted that while most nations face workforce challenges, Africa’s young population positions it for unprecedented growth.
“If the Secretary General of the AfCFTA is given all the support he deserves, we can boost intra-African trade by a staggering 50%.
“As of today, $29 trillion represents one-third of the global GDP. Africa is such a growing continent, and one of its key promises is demography. The challenge now is creating new jobs for the youth population,” he stated.
Others who spoke at the event included the Presidents of South Africa, Cyril Ramaphosa; Botswana, Duma Boko; DR Congo, Felix Tshisekedi; Somalia, Hassan Sheikh Mohamud; Prime Minister of Egypt, Mostafa Madbouly; Confederation of African Football President, Patrice Motsepe; Former British Prime Minister, Tony Blair; amongst numerous global CEOs.
WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050
MAN OF THE YEAR Award By THISDAY Newspapers/ARISE Media Group
CELEBRATING PRESIDENT BOLA TINUBU
The President/Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, Bola Tinubu, has been announced “MAN OF THE YEAR” by THISDAY Newspapers and ARISE News Board of Editors.
The prestigious recognition reaffirmed Mr. President’s exemplary leadership, visionary thinking, and unwavering commitment to transforming the country amid mounting economic and security challenges.
The awards organisers also noted that the President has marched on with courage and determination to change Nigeria for the better, and proven to be a leader who is driven more by convictions and taken decisions which are in the best interest of the nation.
To commemorate this milestone, THISDAY is unveiling a Special Edition on Monday, January 27, 2025, to afford the President’s
aides, friends, well-wishers, and associates the opportunity to share in the joy and pride that the award brings to Mr. President through placement of Congratulatory/Goodwill messages to honour the awardee among other award recipients.
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MAN OF THE YEAR Award By THISDAY Newspapers/ARISE Media Group
“GOODBYES ARE NOT THE END, BUT THE BEGINNING OF NEW JOURNEYS,” SAYS MAJOR GENERAL MAINA………as He Hands Over to Major General UM Alkali, the 7th Commandant of AWCN
Yobe State EXCO Line Up Projects For Commissiong
WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050
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