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The Nigerian equity market recorded a gain of N77bn in the past week, bringing the total market capitalisation closer to the anticipated N60tn threshold. The market capitalisation is currently N59.29tn. The All-Share Index appreciated by 0.11 per cent to close at 97,829.02 points, reflecting positive market sentiment. A total turnover of 1.95bn shares worth N35.86bn
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The Kano State Governor, Alhaji Abba Kabir Yusuf, has presented a proposed 2025 appropriation budget of N549,160,417,663.00 to the state assembly with a 2024 budget performance of 77 percent. Presenting the budget on Friday at the Chamber of the State Assembly, Governor Yusuf hinted that the capital component of the budget stood at N312,634,912,672.18 billion,
Gov Yusuf presents N549.160bn 2025 budget to Kano assembly
The Kano State Governor, Alhaji Abba Kabir Yusuf, has presented a proposed 2025 appropriation budget of N549,160,417,663.00 to the state assembly with a 2024 budget performance of 77 percent.
Presenting the budget on Friday at the Chamber of the State Assembly, Governor Yusuf hinted that the capital component of the budget stood at N312,634,912,672.18 billion, while the recurrent expenditure is set at N236,525,504,990.82 billion for the 2025 budget.
He said that when the budget is approved by the State Assembly, it is projected to have a capital-to-recurrent ratio of 57:43 percent, respectively.
He noted that most of the capital spending will be in the social and economic sectors to the tune of N461,447,963,240.86.
Governor Yusuf explained that education will receive N168,350,802,346.19 (31.00%), health will receive N90,600,835,766.48 (16.50%), agriculture will receive N21,038,199,190.76 (3.83%), and infrastructure development will receive N70,682,843,744.15 (12.87%).
The governor said that Manufacturing, Commerce, Industry, and Tourism will receive N3,887,338,871.45 (1.22%), Environment and Sanitation will receive N15,523,154,078.47 (2.83%), adding that governance institutions will receive N98,242,089,019.58 (17.57%).
He added that the 2024 budget of N437.3 billion has a general performance standing at 77 percent, with recurrent revenue and expenditure at 65 percent. He also noted that many leakages were blocked, leading to the achievements recorded.
Governor Yusuf expressed concern that 2024 has been a very difficult year for many citizens, leading to protests by Nigerians due to the Federal Government’s economic reforms, price rises, and the dollar exchange rate problems.
He prayed that the August protests would be the last but acknowledged that it served as a big reminder of the need to be there for the youths.
He emphasised that the uncertainty of the youth’s response could be disastrous, prompting the Kano government to rise to the occasion by developing many youth programmes.
Gov Yusuf presents N549.160bn 2025 budget to Kano assembly
