As his administration is winding down, the Kogi State Governor Alhaji Yahaya Bello on Monday presented N258,278,501,339.00 appropriation bill for 2024 before the Kogi State House of Assembly for approval.
It was gathered that this will be the last budget Governor Bello will be presenting before the hallow chamber after exiting office on January 27th 2024.
The 2024 proposed budget of N258,278,501,339.00 is against N197,599,674,912.00 revised approved budget for the year 2023.
Tagged budget of consolidation and continuity for inclusive growth,
Governor Bello disclosed that this makes the 2024 draft budget 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 2024 budget will be focusing on according to Governor Bello 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 our resources.
He said "You will agree with me that the habit of wholesomely or largely depending on the Federation Allocation is no longer feasible as it is affecting the ability and preparedness of government to provide effective governance.
"It is high time we explore alternative means of funding the budget. This could be in the form of expanding government tax net, blocking leakages, centralized revenue generation, and ensuring that other means of gathering revenues are explored to enable government provide provide essential services to the citizens".
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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