SPEECH DELIVERED BY THE EXECUTIVE GOVERNOR OF TARABA STATE, HIS EXCELLENCY, DR AGBU KEFAS, AT THE PRESENTATION OF THE 2025 BUDGET TO THE TARABA STATE HOUSE OF ASSEMBLY

Honourable Speaker, Distinguished Members of the Taraba State House of Assembly, Ladies and Gentlemen. It is with a deep sense of duty and optimism that I stand before this Honourable House to present the 2025 Budget Proposal. This budget encapsulates our vision to build a more prosperous, inclusive, and sustainable Taraba State, and I look forward to your robust partnership in achieving this goal.

1. Performance Review: 2024 Budget Mr. Speaker, Honourable Members, the 2024 budget of ₦313.39 billion laid the foundation for strategic investments in critical sectors, including education, healthcare, agriculture, infrastructure, and security.
2. Revenue Performance: ₦84.19 billion was generated in recurrent revenue, with independent revenue of ₦7.56 billion, supplemented by ₦189.03 billion from other receipts.
3. Expenditure Breakdown: ₦118.64 billion (45.8%) was allocated to recurrent activities, while ₦140.35 billion (54.2%) was spent on capital projects. As of August 31, 2024, the overall budget performance stood at 46.7%.

While significant progress was made, challenges such as funding gaps and implementation bottlenecks were identified. These lessons inform our renewed strategies for 2025.

Now The 2025 Budget

Mr. Speaker, Honourable Members, I am proud to present the 2025 Budget Proposal, aptly titled the “Budget of Transformation,” with a total allocation of Four Hundred and Twenty-Nine Billion, Eight Hundred and Ninety-Eight Million, Nine Hundred and Sixty-Eight Thousand, Four Hundred and Two-Naira, Thirty-One Kobo. (₦429,898,968,402.31) only. This represents a 37% increase over the 2024 budget, a deliberate and calculated step to reposition Taraba State for greater socio-economic impact.

Mr. speaker, honourable members, you may ask,

Why the Increase?

This budget expansion is anchored on:

• Strategic Investments: Enhanced allocations for infrastructure, education, healthcare, and job creation to meet growing demands.
• Revenue Growth Potential: Projections indicate a significant increase in grants, federal allocations, and internally generated revenue.
• Alignment with the Taraba Development Master Plan (2023–2050): This long-term blueprint underscores our commitment to sustainable development and effective governance.
Revenue Framework: Key Assumptions

The 2025 budget is based on prudent macroeconomic assumptions, including:

– Gross Domestic Product (GDP)growth rate of 4.6%,
– Oil price benchmark of $75 per barrel,
– Exchange rate of ₦1,400 to the dollar, and
– Inflation rate of 15.75%.
Mr speaker, honourabe members, our

Projected revenue sources include:

– Independent Revenue: ₦50.04 billion 11.6%
– Federal Account Allocation Committee (FAAC) (Statutory Allocation and VAT): ₦139.93 billion (32.5%)
– Aids and Grants: ₦154.26 billion (35.9%)
– Capital Development Fund: ₦79.77 billion (18.6%)
These estimates reflect our resolve to diversify income streams while strengthening fiscal discipline and efficiency.

Expenditure Focus: Prioritizing Transformation

The 2025 Budget prioritizes key sectors as follows:

– Recurrent Expenditure: ₦163.78 billion (38.1%)
Personnel costs and critical operations to ensure effective service delivery.

– Capital Expenditure: ₦266.12 billion (61.9%)
o Economic Sector: ₦147.09 billion (55.3%)
o Social Services: ₦72.88 billion (27.4%)
o Administrative Sector: ₦40.20 billion (15.1%)
o Law and Justice: ₦5.95 billion (2.2%)
These allocations are tailored to drive growth, promote equity, and enhance the quality of life for our people.

Mr. speaker, honourable members, our

Strategic Priorities for 2025 are:

• Education: Expansion of free, compulsory education and construction of modern schools using hydroform block machines.
• Job Creation: Empowering youths through skill acquisition and entrepreneurship hubs.
• Infrastructure: Development of roads, healthcare facilities, and renewable energy projects.
• Agriculture and Natural Resources: Mechanized farming and responsible mining of resources.
• Security: Strengthening local intelligence networks and leveraging technology for safety with a keen watch on our borders.
• Tourism and Sustainability: Promotion of eco-tourism and renewable energy to diversify the economy.
• Strengthening Governance: Taraba Development Master Plan (2023–2050)

Mr. speaker, Honourable Members, this budget is a vital component of the Taraba Development Master Plan, our comprehensive framework for strategic growth. The plan emphasizes economic diversification, environmental sustainability, and institutional reforms to make Taraba a model state in Nigeria.

Finally,

Mr. Speaker, Honourable Members, the 2025 Budget is ambitious but achievable. It reflects our collective aspirations and a commitment to prudent management of resources. I urge you to support this proposal and work with us to ensure its effective implementation.

Together, we can build a transformed Taraba State—one that offers opportunities, equity, and prosperity for all.

It is, therefore, with great honor that I lay before this Honourable House the 2025 Taraba State Appropriation Bill to the tune of Four Hundred and Twenty-Nine Billion, Eight Hundred and Ninety-Eight Million, Nine Hundred and Sixty-Eight Thousand, Four Hundred and Two-Naira, Thirty-One Kobo. (₦429,898,968,402.31) only. The details will be provided by the honourable commissioner of Finance, Budget and Economic Planning.

Thank you, And may God bless Taraba State.

DR. AGBU KEFAS
Governor of Taraba State