By Aluta News
Jan. 12, 2024
The Nasarawa State Government has earmarked N40.16 billion to be spent in the education sector in 2024, representing 20 per cent of the total budget of N199,9 billion.
Mrs Munira Abdullahi, state Commissioner for Finance, Budget and Planning made the disclosure to newsmen during the 2024 budget breakdown on Friday in Lafia.
The Commissioner explained that education was the topmost priority of the state government which was why it allocated 20 per cent of its 2024 budget in compliance with UNESCO’s recommendation.
She added that the budget was made up of N113.123 billion as recurrent expenditure and N86.8 billion for capital expenditure.
The commissioner said that the budget was expected to be funded from the following anticipated revenue sources; opening balance of N3.56 billion, statutory revenue allocation of N45 billion.
Others are; value added tax N27.50 billion, exchange gain of N7.50 billion, special allocation of N11 billion, refund from NNPC N20 billion and other revenue from FAAC N5.9 billion, with N43.3 billion from Internally Generated Revenue.
Munira Abdullahi also said that the government had budgeted N500 million for the purchase Closed Circuit Television (CCTV) in Lafia the state capital to tackle security challenges.
She noted that the administration of Gov. Abdullahi Sule had adhered to international best practice in preparing the 2024 budget to ensure accountability, transparency and prudence in the management of public resources.
She, therefore, assured the people of the state of government’s determination to complete all ongoing projects.
The News Agency of Nigeria (NAN) reports that Gov. Sule signed the 2024 budget into law on Dec 29, with a commitment to consolidate on the gains so far recorded in the state.