Kano State Commissioner for Ministry of Planning and Budget, Musa Suleman Shanono, has said the state government’s projection for monthly Internally Generated Revenue( IGR) is N6.3 billion in 2025.
This was just as he disclosed that presently IGR was over N 4 billion adding that this may hit about N10 billion based on the proposed reforms put in place by the state governor Abba Kabir Yusuf.
He made this assertion, while given the breakdown of the recent
N549,160,417,663.00, presented by Governor Yusuf before the state assembly for consideration and approval
He however disclosed that the state government has earmarked a sum of N150,996,352,990.82 for payment of monthly salaries and allowances to the civil servants and political office holders.
Alhaji Shanono, therefore emphasised that the amount is based on the approval of the new minimum wage by the governor.
He then stated that the amount is part of the proposed recurrent expenditure for the 2025 fiscal year, which is estimated to be N236,525,504,990, 82, representing 43 percent of the total estimated budget size.
According to him” The total Recurrent Expenditure for the incoming fiscal year 2025 is estimated at N236,525,504,990, 82 representing 43% of the total budget size.
“Out of this, the sum of N150,996,352,990.82 is dedicated for the payment of Monthly Salaries and Allowances to the Civil Servants and Political Office holders in the state, based on the approval of the new Minimum Policy by His Excellency the Governor Alhaji Abba Kabir Yusuf.”
The proposed overhead costs for Ministries Departments and Agencies (MDAs), according to Shanono are estimated to be the sum of N75,567,346,000.
“For MDAs running cost, critical priority payments based on Standing Order approved by His Excellency to MDAs. While the payment of Debt Service is to the sum of N9,961,805,000 for the fiscal year 2025,” he said.
Shanono explained that the size of the proposed 2025 budget is N549,160,417,663.00 as the capital expenditure component stands at N312,634,912,672.18, while the recurrent expenditure was set at N236,525,504,990.82.
He also disclosed that the total recurrent revenue expected to be collected for the fiscal year 2025 is estimated to be N449,092,680,142.00, adding that it consists N75,718,779,890.00 as Internally Generated Revenue (IGR), while the sum of N373,373,900,252.00 as revenue from Federal Account Allocation committee (FAAC) that consists of Value Added Tax (VAT), Electronic Transfer (EMTL) and other FAAC Revenues.
Alhaji Shanono added; “The total recurrent revenue is higher than 2024 by N69,330390,567.00, representing an 18% increase. Having laid down the foundation for the implementation of policies and programs since our inception to date, the present administration intends to maintain its commitment in using our available resources in the pursuance of major programs and projects and the 2025 fiscal year”.
ALSO READ THESE TOP STORIES FROM NIGERIAN TRIBUNE
