Taraba State Governor, Dr Agbu Kefas, Friday, presented a budget proposal of ₦311,388,525,661.96 for the 2024 appropriation bill before the state’s House of Assembly with education taking a substantial portion.
The Governor said the budget tagged, “Moving Forward,” will transform the state tremendously and also aim to enhance infrastructure in schools, improve teachers training, and invest in educational technology to ensure the youth receive the best possible education.
He further stated that Government institutions will be strengthened and promote transparency, accountability, and effective public financial management to ensure efficient resource allocation and utilization.
The sum of ₦111,679,595,358.59 representing about 35.9 per cent of the total budget is earmarked for recurrent expenditure while the balance of ₦199,708,930,303.37 billion, representing 64.1 per cent is allocated to capital investments.
Dr Agbu Kefas further stress that, the 2024 Budget Estimates of the State aims to foster sustainable growth, social development, Agriculture and rural development, infrastructure development, Governance, and public financial management. Highlighting that the preparation of the 2024 Budget was guided by the following macroeconomic variables as determined by the Federal Government:
(i) International oil price benchmark of $73.96 per barrel,
(ii) Oil production quota of 1.78 million barrels per day,
(iii) United States Dollar exchange rate to N700,
(iv) Inflation rate of 21% and
(v) A GDP growth rate of 3.76%.
He assured the members and citizens of the state of his commitment to implement the budget with utmost fiscal discipline, transparency, and accountability.
