Richard Elesho
Kogi State Governor Yahaya Adoiza Bello continued with his annual tradition of timely presentation of Appropriztion Bill on Monday when he presented the 2024 budget proposal to the state lawmakers in Lokoja. The proposed figure of N258,278,501,339.00 is higher than the N197,599,674,912.00 revised budget of last year.
Tagged budget of consolidation and continuity for inclusive growth,
Bello disclosed that the 2024 draft budget is higher by N60,678,826,427.00 compared to the 2023 revised budget, representing a 30.71% increase.
“This total budget outlay is 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%”.
“The year 2024 draft Budget has been drafted to enhance Internally Generated Revenue, aggressive pursue repayment of debt owned to us by the Federal Government, provide more conducive environment for our Development Partners across the world to contribute to the State economy; mobilize private sector investments to the State; encourage Public-PrivatePartnership (PPP) and more importantly, block all wastages and leakages in our revenues as well as emphasize the completion of all on going projects/programs while bringing on board, few new critical ones that are in line with the priorities of the New Direction Administration” he stated.
Bello added that some of the critical areas of the State economy that the 2024 budget will focus on includes good governance and leadership, infrastructural development and maintenance, education and human development, improved health care and social welfare, agriculture and rural development, security and peace building, Women empowerment and Gender equality.
Other critical areas the budget will focus on according to the Governor are environment and sustainable development, industry and commerce, information and communication technology and innovation, youth empowerment and Sport development, entertainment, culture and tourism development, housing, enhanced internally generated revenue, Water and Sanitation.
Earlier in his address, the Speaker, Kogi State House of Assembly Rt. Hon Aliyu Umar Yusuf noted that, the budget is expected to be a reflection of the resolve of the people of the state to address their critical needs.
“While I understand the resource constraints we face as a state which is not peculiar to us, I hope the budget would prioritise investment in the future of the state by consolidating and solidifying the areas the state has recorded positive gains and areas of advantage”
The Kogi Assembly Speaker stressed the need for the overhauling of the state fiscal policy in view of the continued dwindling of resources.