Kogi State Governor, Yahaya Bello Monday presented a total budget estimate of N258. 27 billion to the State House of Assembly for approval.
The 2024 budget estimate titled “The budget of consolidation and continuity for inclusive growth” was divided into Recurrent Expenditure of N145,736,429,609:00 representing 56.43% and Capital Expenditure of N112,542,071,730:00 representing 43.57%.
While presenting the 2024 draft Budget to the State House of Assembly for consideration and approval on Monday at the hallow chamber of the Assembly in Lokoja , Governor Bello stated that the total Budget package for year 2024 is N258,278,501,339:00 with an increment of N60,678,826,427:00 which represented 30.71% when compared with the approved reviewed Budget for year 2023 which was N197,599,674,912:00.
Speaking on the total estimated recurrent revenue for the 2024 Budget, the Governor said “the Recurrent Revenue for the year 2024 stands at N168,406,138,861:00 consisting of N30,235,332,685:00 from internal sources while N85,650,179,027 will come from statutory allocation from the Federation Account among others.
According to him “The estimated Personnel Cost, Overhead Cost and Public Debt Charges for the same period stand at N65,071,493,479:00, N56,693,794,550:00, N8,871,141,580:00 and N15,100,000,000:00 respectively, putting the total recurrent expenditure for 2024 at N145,736,429,609:00”
Governor Bello who presented his last budget as the Executive
Governor of the State, stated that the 2024 draft budget was drafted to enhance Internally Generated Revenue (IGR), aggressive pursuit of repayment of debt owed the state by the federal government.
He added that the budget would also provide more conducive environment for the state’s development partners across the world to enable them contribute to the state economy.
“The 2024 is also expected to mobilize private sector investments to the state, encourage Public – Private – Partnership (PPP) and also blocked all wastages and leakages in our revenue as well as completion of all ongoing projects/programmes while new ones will be provided in line with the priorities of the New Direction Administration.
“The budget will focus on continued provision of physical infrastructure, human capital development, job creation, wealth creation and poverty reduction in Kogi State. These will be achieved through prudent use of resources and scaling up of our expenditures in the areas of health, education, agriculture, water resources, environment, housing and support for women and youth empowernment programmes” Governor Bello stated.
The Speaker of Kogi State House of Assembly, Rt Hon. Aliyu Umar Yusuf in his welcome address applauded the effort of Governor Yahaya Bello for been able to developed a comprehensive blueprint for the new phase of the state’s development.
He assured the people of the state that the executive would enjoy the necessary legislative support to ensure the strategic objectives of the new administration are achieved in the interest and benefits of the State.
“The parliament, without any shred of doubt, plays critical roles in shaping the fiscal curve of the state and I want to further assure you that this Assembly is committed to supporting the executive arm to achieve improved economy for Kogi State in the years to come” he said.