Governor Yahaya Bello, members of his cabinet and other top governnent functionaries, in a group picture after the presentation of the 2022 budget in Lokoja by the governor.
By Dada Ahmed in Lokoja.
Governor Yahaya Bello of Kogi State on Wednesday, presented 2023 budget of N172,090,787,292.00 to the State House Assembly for “close scrutiny and possible approval”as against N167,301,962,197.00 approved in the revised budget for 2022.
Presenting the budget,the governor noted that the budget had an increase of N 4,788,825,095 or 2 86 per cent when compared with the 2022 approved revised budget.
He said the budget is aimed at ensuring the actualisation of the development priorities of the state government as articulated in the Kogi State Development Plan and respective Sector Implementation Plans (SIPs) and maintain a favourable proportion of Capital to Recurrent Expenditure among others aims and objectives.
Bello said that the budget,tagged,”Budget of Transformation”,had a total estimated recurrent revenue of N 111,248,278,186, consisting of N 24,826,741,265 from internal sources, N 52,000,000,000 as statutory allocation from the federated account.
Other analysis of the budget,Bello added, include,N2,000,000,000 from Kogi Mineral Fund (13 per cent Derivation),N 25,100,000,000 from Value Added Tax(VAT),N100,000,000 from excess crude,N790,000,000 from budget augument, N1,000,000,000 from exchange differentials,N 3,000,000,000 as refund from federal government.
“N1,000,000,000 from non-oil revenue,N 200,000,000 from forex equalization,N231,536,921 from recovery excess bank charges,N500,000,000 from solid minerals and N 500,000 from ecological fund,” he said.
According to the governor, the recurrent revenue for 2023 stands at N,111,248,278,186, adding that estimated personal cost, overhead cost and public debt charges for the same period stand at N53,512,113,681,N 37,080,467,838 and N8,089,622l,595 respectively.
Bello further revealed that transfer payments,grants and contributions stands at N 2,632,926,227 amounting to total expenditure for 2023 at N 101,315,129,341.
“Based on the above,we have a total estimated transfer surplus of N 9,933,148,845 as part of capital development fund.
Reflecting on 2023 budget of accelerated,he said the budget had been fulfilling so far in terms of what his administration bad been able to accomplish despite drawbacks.
Some of the successes of this year budget,he said include, completion in projects, policies and target set for the period, despite short fall in its funding.
Receiving the budget, the Speaker of the Assembly, Prince Matthew Kolawole, expressed delight over the cordial relationship between the executive and the legislature in the state, adding that the “immeasurable corporation and support” the Assembly received from the executive had enhanced its legislative duties.
He commended the Governor for the achievements of his administration in human and infrastructural development.
,
On the burnt chamber and gallery of the State House of Assembly, the governor assured the legislators that the facility would be built back better
“Let me make an undertaking that your destroyed chambers will be built back better and that you will soon be able to sit there again to discharge your duties, he pledged.
Our Correspondent reports that the Deputy Governor of the state, Chief Edward Onoja, representatives of the three arms of governnent, politicians and other members of the society attended the occasion.
