Lokoja – Governor Yahaya Bello of Kogi State has presented N172 billion 2023 budget to the state House of Assembly.
The governor made the presentation of the “Budget of Transformation” on Wednesday.
He said budget was is towards entrenching peace and security, improving quality education at all levels and democratising access to quality healthcare delivery.
“The 2023 budget is higher by N4.79 billion compared to the 2022 budget, thus representing a 2.86 per cent increase as against an estimated outlay of N167.30bln approved budget for year 2022.
“The 2023 budget is made up of N101.3 billion recurrent expenditure, representing 58.87 per cent of the budget and N70.7 billion capital, representing 47.13 per cent of the budget.
“This budget has an estimated revenue of N172 billion, estimated expenditure of N172b, thus representing a balanced budget of N172. 09 for the 2023 fiscal year.
“The 2023-2025 multi year budget, which is premised on zero based budgeting principles, is tailored towards the actualisation of the state development plan,” he explained..
According to Bello, the budget is geared towards creating employment, achieve sustainable development and promote social economic development through culture and tourism.
He also said that it was aimed 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 purposes.
A breakdown of the budget shows that administration has an allocation of N40 billion, representing 21.94 per cent of the budget; economic — N53billion — representing 31 per cent; law and justice — N7billion — representing 4.14 per cent; social N63billion — representing 36.69 per cent of the budget.
Receiving the budget, the Speaker of the house, Hon. Matthew Kolawole, assured the governor of quick passage of the budget in the interest of the people of Kogi.
Kolawole commended the governor for preparing and presenting a people- oriented budget for the 2023 fiscal year to the house.(NAN/vitalnewsngr.com)