Breaking: Bello proposes N175billion for 2017

   Kogi State Governor, Yahaya Bello on Thursday December 22 presented N174.851, 544,523 to the State House of Assembly as fiscal estimate for 2017, Fresh Angle International can authoritatively report.

Our Kogi State Correspondent reports that the total budget outlay is divided into recurrent expenditure of N 58.531,404,254, representing 33.47% and capital expenditure of N116.320,140,269, representing 66.53%.

The Governor said the 2017 budget proposal which is christened ‘budget of new direction’ was designed to make for better policy formulation, fiscal planning, budget analysis, accountability, routine financial management and international comparisons.

Bello noted that the implementation of the budget will accelerate the rate at which the State can build physical infrastructure as well as develop human capital.

According to the Governor, the proposed appropriation will help scale up expenditures in health, education, infrastructure, utilities, job creation, youth engagement, public service and pension reform.

He added that the budget is designed to equally stimulate agriculture, water resources, environment, housing and support from women as well as youth empowerment.

Bello said the objective of the budget was to complete ongoing projects and incrementally add new projects.

A breakdown of the budget shows that recurrent revenue consists of N32.18 billion from internal sources, N35.30 billion as state's share from the Federation Account, N8 billion from Value Added Tax (VAT), N2.209 billion from exchange differential and N3.88 billion from budget augmentation.

It will be recalled that the total approved budget for year 2016 was N99,998,674,261, out of which the current revenue was N63,127,700,000 and capital receipts was N36,870,410,490.

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