Bauchi State Governor Bala Mohammed has presented an ambitious N465 billion budget for the 2025 fiscal year, focusing on capital development and addressing pressing economic challenges. The budget, titled “Consolidation and Sustainable Development,” was presented to the State House of Assembly yesterday and reflects an 18% increase from the 2024 fiscal year.
The proposed budget allocates N282.34 billion (60.7%) to capital projects, shows the administration’s commitment to infrastructure and sustainable development. Recurrent expenditures are pegged at N182.74 billion (39.3%). Governor Mohammed stated that the budget is based on an oil production benchmark of 2 million barrels per day and an exchange rate of $1 to N1,400.
While highlighting Bauchi State’s economic progress, the governor did not shy away from addressing the significant hurdles facing the state. He pointed out that Nigeria recorded a staggering inflation rate of 32.7% in September 2024. This economic pressure has led to the closure of over 200 local businesses in Bauchi within the past year, exacerbating unemployment and poverty levels.
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Governor Mohammed urged the Federal Government to extend greater support to Bauchi State through cash assistance and food relief initiatives to mitigate the economic strain on residents. He also called for empathetic tax reforms and improved public spending to rebuild trust between the government and its citizens.
“Reforms must clearly address the needs of vulnerable Nigerians. This is critical to ensuring sustainable development and inclusive growth,” the governor emphasized.
In a bid to foster economic recovery, he advocated for stronger public-private partnerships aimed at boosting agriculture, exports, and other critical sectors. These collaborations, he noted, could provide long-term solutions to the state’s economic challenges while driving growth and creating jobs.
The Speaker of the Bauchi State House of Assembly, Abubakar Sulaiman, lauded the governor’s collaborative approach and assured the public that the budget proposal would be subjected to a thorough yet expedited review process.
