The Lukiiko of the Buganda Kingdom has granted approval to a budget of 209.41 billion shillings to support various monarchy activities in the Financial Year 2023/2024.
This new budget, themed “Teri Kibongota,” which translates to “Be sober-minded,” surpasses the current 2022/2023 financial year budget by 52 billion shillings. The presentation of the budget was made by the Kingdom’s Minister of Finance, Robert Waggwa Nsibirwa, before the Lukiiko members, presided over by Deputy Speaker Ahmed Lwasa.
Nsibirwa emphasized that the Kingdom’s priorities for the upcoming financial year will revolve around agriculture, service delivery, land activities, partnerships, education, health, tourism, and cooperatives, among other sectors.
In accordance with the budget allocations, investments will receive 61 billion shillings, cooperatives 34 billion shillings, education 19 billion shillings, and health 7.4 billion shillings.
Furthermore, the Kingdom has recorded a surplus of 17 billion shillings for the last financial year, 2022/2023, as it had initially projected to collect 157 billion shillings but managed to collect 174 billion shillings.
Nsibirwa attributed this surplus to various factors, including government payments of 9.5 billion shillings out of the 500 billion shillings owed to the Kingdom by the central government, sustained partnerships, and the export of coffee from the Kingdom to other countries, facilitated by the company Emwanyi Terimba Limited, among other factors.
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