Boko Haram: Borno to Spend 70 Percent of 2016 Budget on Capital Expenditure

In an effort to rebuild the state from the destruction occasioned by Boko Haram, Borno State Governor, Alhaji Kashim Shettima, has proposed 70 percent of the 2016 budget proposal for capital expenditure.

Presenting the 2016 Appropriation Bill tagged "Budget for Reconstruction, Rehabilitation and Resettlement" to the State House of Assembly on Wednesday, Shettima announced the sum of N155 billion for both capital and recurrent expenditures.
In the budget, capital projects are allocated N103 billion representing more than 70% of the total budget while recurrent expenditure gets N51 billion representing about 30%.
Both expenditures are expected to be financed from a recurrent revenue of N155 billion comprising Federation Account Allocation and Internally Generated Revenue of N29 billion,  Shettima told the lawmakers.



Check This Day newspaper for the full story.



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