By; ADAMA JOHN, Lokoja
The Kogi State Governor, Alhaji Yahaya Bello has presented an estimated budget of N172 billion Naira to the state legislature for consideration for 2023 fiscal year.
The 2023 budget christened ‘budget of transformation’ is comparatively higher by N4,788,825,095,00 to the 2022 budget representing a 2.86% increase as against the estimated outlay of N167,301,962,197,00 approved budget for year 2022.
Presenting the budget he referred to as “the peoples budget” to the lawmakers of midweek, Governor Bello said that the 2023-2025 Multi year budget premised on zero based budgeting principles, is tailored towards the actualization of the State development plan.
According to him,the 2023 budget objectives and targets aim at achieving peace and security, improving quality education at all levels, democratise access to health care by sustained improvement in the efficiency of health care delivery system and infrastructure.
These primary objectives are seconded by the commitment to ensure food security, exploit the full potentials of the economy, ensure that products from agricultural and industrial activities have access to markets locally and Internationally.
Gov. Bello explained that the budget is geared towards creating employment, achieve sustainable development and promote socioeconomic development through culture and tourism.
The 2023 budget which has a recurrent expenditure of N101,315,129,341 representing 58.87% of the budget, has N70,775,657,951 as capital, representing 47.13% of the budget, will also aim at establishing the necessary framework for a robust mining and solid minerals sector, improve road network in urban and rural areas as well as improve the quantity, quality and access to safe water for domestic, commercial and industrial uses.
A breakdown of the budget shows that administration has a total allocation of N40 billion representing 21.94% of the budget; Economic N53b representing 31%; Law and Justice N7b representing 4.14%; Social N63b representing 36.69% of the budget.
The budget according to Gov. Bello has an estimated revenue of N172 billion, estimated expenditure of N172 billion, thus representing a balanced budget of N172, 090,787,292 for the 2023 fiscal year.
