By Francis Ogwo
The Governor of Borno State, Babagana Zulum on Wednesday presented a budget of N208.7 billion for 2021 to the State House of Assembly for approval.
According to Zulum, the budget tagged “Budget of Recovery and Consolidation”, was higher than the 2020 figure of N134.5 billion, representing about N74.5 billion increase.
He noted that the budget was made up of N90.2 billion recurrent expenditure and N118.4 billion capital expenditure.
In his response, Speaker Abdulkarim Lawan assured that the lawmakers would speed up action on the budget to ensure early passage.
Borno, also known as Borno State, is a state in north-eastern Nigeria. Its capital and largest city is Maiduguri. The state was formed in 1976 from the split of the North-Eastern State. Until 1991, it contained what is now Yobe State. The motto or slogan of the state is “Home of Peace”.
Peace, however, had over the years eluded the state as it has been a battle field between the Nigerian Military and insurgents.
This development according to economists had robbed off on the business atmosphere in the largely agrarian state as investors both foreign and local have reportedly stayed away for security reasons.
