Bauchi State Governor, Bala Mohammed, has presented a N465 billion budget proposal for the 2025 fiscal year to the State House of Assembly for approval. The proposed budget, titled “Consolidation and Sustainable Development,” prioritizes both recurrent and capital expenditures, with N182.74 billion (39.3%) allocated for recurrent costs and N282.34 billion (60.7%) for capital development.

This new budget represents an 18% increase over the 2024 budget, reflecting efforts to improve the state’s economic standing. The governor’s fiscal plan is based on optimistic assumptions, including a crude oil production target of 2 million barrels per day and an exchange rate of $1 to N1,400.

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Despite recognizing positive economic growth and better oil production, Governor Mohammed expressed concern over Nigeria’s economic hurdles, including inflation, unemployment, and rising poverty levels. He highlighted the nation’s inflation rate of 32.7% as of September 2024 and the closure of over 200 local businesses due to the tough economic climate.

Governor Mohammed urged for stronger Federal Government support, particularly in the form of cash assistance and food relief, and stressed the importance of public-private partnerships to boost sectors like agriculture and exports. He also called for fair tax reforms, improved public spending, and policies that would address the needs of vulnerable Nigerians with empathy.

In response, Speaker of the Assembly, Abubakar Sulaiman, assured the public that the budget would undergo a swift and thorough review, emphasizing the strong collaboration between the executive and legislature to ensure its effective implementation.