The Breakdown: Game-Changer or Gamble? Governor Mutfwang’s ₦314.86 billion 2024 Budget Unveiled

The Plateau State Government has unveiled its 2024 budget, projecting significant investment in critical sectors to address the state’s immediate and long-term development needs. Presented by Governor Caleb Manasseh Mutfwang, the budget, initially estimated at ₦295.43 billion, was increased to ₦314.86 billion following legislative adjustments.

The 2024 budget is divided into recurrent and capital expenditures, reflecting a balanced approach to governance and development:

• Recurrent Expenditure: ₦162.33 billion (51.56%) – covers the government’s daily running costs like salaries and maintenance
• Capital Expenditure: ₦152.53 billion (48.44%) – used for long-term investments such as building infrastructure and public projects.

This allocation underscores the administration’s commitment to addressing operational needs and advancing infrastructural development.

Revenue Sources

To finance the budget, the government has projected a total revenue of ₦314.86 billion, sourced from:

• Internally Generated Revenue (IGR): ₦38.89 billion
• Federal Allocation (FAAC): ₦151.42 billion
• Aids and Grants: ₦26.35 billion
• Capital Development Fund (CDF): ₦98.18 billion

Plateau Govt. Key Priorities for 2024

The 2024 budget focuses on areas critical to Plateau State’s growth:

1. Security and Peacebuilding: Enhancing security architecture and facilitating the resettlement of displaced persons.
2. Infrastructure Development: Rehabilitation of roads, acquisition of metro transit buses, and commencement of railway operations to ease transportation challenges.
3. Economic Growth: Diversifying revenue sources through improved tax collection and public sector reforms.
4. Social Welfare: Allocations to improve healthcare, education, and civil servant training.

Sectoral Allocations for Capital Expenditure

The capital expenditure of ₦152.53 billion has been strategically allocated across sectors to drive growth:

• Economic Sector: ₦93.01 billion (60.99%)
• Administrative Sector: ₦33.38 billion (21.89%)
• Social Sector: ₦19.06 billion (12.49%)
• Law and Justice: ₦7.03 billion (4.63%)

Governor Mutfwang reaffirmed his administration’s dedication to transparency, accountability, and impactful governance. The budget aims to consolidate the achievements of 2023 while addressing the pressing needs of citizens.

With this comprehensive financial plan, Plateau State is poised to tackle current challenges and lay a solid foundation for sustainable growth and development.