The Kogi state governor, Yahaya Bello, has presented a total budget estimate of N172 .09 billion to the state House of Assembly for approval.
The 2023 budget estimate tagged: “The Budget of Transformation,” was divided into recurrent expenditure of N101,299,129,341representing 8.86% and capital expenditure of N70,791,657,951 representing 41.14%.
While presenting the 2023 draft budget to the state House of Assembly for consideration and approval Wednesday at Speaker’s lodge, Lokoja , Governor Bello stated that the total Budget package for year 2023 is N172,090,787,292:00 with an increment of N4,788,825,095:00 when compared with the approved reviewed Budget for year 2022 which was N167,301,962,197:00.
Speaking on the total estimated recurrent revenue for the 2023 Budget, the governor said “the Recurrent Revenue for the year 2023 stands at N111,248,278,186.
“The estimated Personnel Cost, Overhead Cost and Public Debt Charges for the same period stand at N53,512,113,681, N37,080,467,838 and N8,089,621,595 while transfer payments, grants and contribution stand at N2,632,926,227 putting the total recurrent expenditure for 2023 at N101,315,129,341.”
Governor Bello bemoaned the continuous fall in the federal allocation to the state, said the situation has made the traditional income sources unreliable in the quest for the state government to continue meeting with its developmental goals.