By Titus Atondu, Makurdi
Benue State Governor, Rev. Fr. Dr. Hyacinth Iormem Alia, on Wednesday, presented a proposed 2025 budget totaling ₦550,112,988,930.45 to the Benue State House of Assembly.
Governor Alia, presenting the budget in the hallowed chambers of the House, explained that the proposed sum represents a 47.5% increase over the revised 2024 budget.
He attributed the increase to the positive outcomes of the revision and the third-quarter performance of the 2024 budget.
Alia made the presentation at the hallow chambers of the Benue State House of Assembly, explained that the proposed budget is as the result of the approval for the revision of the 2024 approved budget and its subsequent third quarter year-to-date (3YTD) performance.
The Governor further explained that the budget represents a 47.5% increment over the 2024 revised and approved budget.
According to the Governor, the proposed 2025 Borrowing Plan potrays his government intention to stay within the limits of its recurring revenue to build the Benue of our dreams, without accruing unnecessary debts for generations unborn.
“This explains why Benue State is among the few States in the country that are offsetting their indebtedness, paying salaries and meeting other financial and infrastructure commitments without recourse to borrowing.” Alia stressed.
He also disclosed that the Benue State House of Assembly Complex renovation which is 80% completion, his government will ensure the completion and full furnishing of the facility in 2025 with the cooperation of the assembly.
The Governor said the budgeted Capital Expenditure (CAPEX) stands at Three Hundred and Seventy-Four Billion, Seven Hundred Million, Nine Hundred and Seventy Thousand, Six Hundred and Forty-Six Naira, Forty-One Kobo Only(N374,700,970,646.41).
This amount represents a 71.5% increase over the 2024 Revised Budget, with the expectation that the attendant needs of capital expenditure (CAPEX) will be addressed in the 2025 Budget.
The proposed budget allocates ₦374,700,970,646.41 for Capital Expenditure (CAPEX), representing a 71.5% increase over the 2024 revised budget.
