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Katsina shrinks 2023 budget to N288.6bn, targets N39bn loans

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The Katsina State Government has proposed N288,633,275,962 as its 2023 appropriation, which falls short of its existing N323,296,220,961 budget by N34,662,962,998.

This is the budget proposal brought by the State Ministry of Budget and Economic Planning to the fifth regular meeting of the State Executive Council (SEC) presided over by  Governor Aminu Bello Masari for approval on Wednesday.

Briefing newsmen on the outcome of the council meeting, the Permanent Secretary of the ministry, Alhaji Abubakar abdullahi, noted that the appropriation tagged, ‘Budget of Transition,’ would be presented by Governor Masari to the Katsina State House of Assembly next week.

The permanent secretary said about N119,210,024,000 is expected from the Federation Account; N62,592,061,331 from Internally Generated Revenue (IGR); N36 billion from Value Added Tax (VAT) and N8.3 billion from Excess Crude Account.

According to him, the 2023 appropriation would receive domestic loan components to the tune of N29.4 billion and  foreign counterpart to the tune of N10 billion under its capital receipts.

“We are expecting a closing balance which will be the opening balance of 2023 to the tune of N12.62 billion,” he said.

Abdullahi further explained: “In all, we are expecting a total distributable revenue of N288,633,275,962 which is going to give us a balance budget in 2023.”


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