Gov. Babagana Zulum of Borno has presented a budget of N890.33 billion for the 2026 fiscal year to the Borno State House of Assembly.
Presenting the budget at the State Assembly on Monday in Maiduguri, Zulum said the budget was aligned with the state’s 25-Year Development Plan and 10-Year Strategic Transformation Initiative.
The News Agency of Nigeria (NAN) reports that the budget was christened “Budget of Sustained Recovery and Growth.”
The governor said the budget comprises N536.56 billion for capital expenditure and N353.77 billion for recurrent expenditure.
He said funding sources include N317.68 billion from FAAC, N44.30 billion from IGR and N417.23 billion in capital receipts from grants and aid.
Zulum said the budget assumptions include an oil price benchmark of 64 U.S dollars per barrel, an exchange rate of N1,512 to the dollar and an inflation rate of 18 per cent.
He said the budget prioritised security, human capital development, infrastructure, social welfare and economic revitalisation, with emphasis on durable solutions for displaced persons and resettled communities.
He, however, reaffirmed his administration’s commitment to prudent financial management, due process, and value for money in public spending.
The governor said the 2026 budget prioritised revenue generation, land administration, emergency management, urban planning, rural electrification, arts and culture, scholarship management, and sustainable development initiatives.
He said that security and durable solutions for displaced persons form the core of his 2026 appropriation.
Zulum said the budget provided increased funding for security agencies to consolidate peace through improved welfare, modern equipment and enhanced intelligence gathering.
He said significant resources were also earmarked for closing remaining IDP camps through the construction of resilient housing, land allocation and livelihood revitalisation in recovered communities.
According to him, the goal is to transition from humanitarian assistance to sustainable development, ensuring resettled citizens live with dignity, self-reliance and opportunity.
Zulum reviewed the 2025 fiscal year, citing macroeconomic challenges that affected budget implementation.
He recalled that the 2025 budget stood at N615.85 billion, comprising N373.67 billion for capital expenditure and N242.17 billion for recurrent expenditure.
The governor said that assumptions on exchange rate stability and inflation under the Federal Government’s Medium-Term Expenditure Framework were disrupted by prevailing economic realities.
Despite the challenges, he said the state adopted proactive fiscal measures that ensured continued service delivery, infrastructure development and support to security agencies.
Responding, the Speaker of the state assembly, Abdulkarim Lawan, lauded the achievements made by the governor in the 2025 budget.
Lawan also assured the governor of the assembly’s determination to pass the budget within a short time.
