Kogi State Governor, Ahmed Usman Ododo has said the State Executive Council will present a bill for legislation on the 32-year development plan from 2024 to 2056.
According to a statement by the Special Adviser on Media to the Governor, Ismaila Isah, Governor Ododo made this known while presenting the 2025 Budget estimate to the Kogi State House of Assembly on Tuesday.
According to the Governor, providing legislative backing for the 32-year development plan of the Kogi State government is to ensure continuity and consolidation of on-going development in infrastructure and human capital development, enhancement of the quality of lives and livelihood of people in urban and rural areas, support for new initiatives in solid minerals development, law, justice and public service reforms, among others which he said have to be sustained to prevent project abandonment and deviation from the strategic vision to position Kogi state as an investment destination.
“As part of our efforts to build a new and prosperous Kogi State, we have developed a 32-year state development plan with the theme ‘Shared Hope and Prosperity’. The document is a comprehensive roadmap designed to transform Kogi State into a thriving, inclusive and sustainable economy,” he stated.
Governor Ododo further said the state development plan is anchored on three pillars of fostering prosperity, building resilience and providing direction for sustainable development through exceptional innovation, wealth creation, healthcare and human capital development established on the foundation of peace and exemplary governance.
He noted the state development plan which is now operational is in three phases beginning with its first phase from 2024 to 2033 to lay the foundation for growth with investment in critical infrastructure, human capital development and economic diversification, adding that the phases two and three from 2034 to 2043 and 2043 to 2056 will focus on accelerating economic growth, improving governance and enhancing environmental sustainability; and consolidating on the gains of the earlier phases promoting innovation and ensuring the state remains competitive and attractive for investment.
Meanwhile, the proposed Budget estimates presented by the Governor for the next fiscal year is N584,404,119,489.00 (five hundred and eighty-two billion, four hundred and four million, one hundred and nineteen thousand, four hundred and eighty-nine Naira) to the Kogi State House of Assembly.
The breakdown of the 2025 budget proposal shows that the sum of N302, 813, 903,802 (three hundred and two billion, eight hundred and thirteen million, nine hundred and three thousand, eight hundred and two) Naira representing 51.99% is allocated for capital expenditure while N279, 590,215,687 (two hundred and seventy nine billion, five hundred and ninety million, two hundred anf fifteen thousand, six hundred and eighty seven Naira) representing 48.01% is allocated for recurrent expenditure.
The 2025 budget estimates christened budget of consolidation and continuity for inclusive development is N176, 82,989,476 (one hundred and seventy six billion, eighty two million, nine hundred and eighty nine thousand, four hundred and seventy six Naira) higher than the 2024 revised budget representing a 43.34% increase from the 2024 budget.
The allocation to sectors indicates that the sum of N120, 047, 367,416 Naira which is 20.61% is allocated to administration; N227, 820,142,196 Naira which is 39.12% is allocated to economic matters; N23,754,514,351 Naira which is 4.08% is allocated to law and Justice, and N210,782,095,526 which is 36.19%
is allocated to social services bring the total to N582,404,119,489 Naira as the 2025 budget proposal presented to the state house of assembly.
Governor Ododo also outlined the policy direction of the 2025 budget proposal anchored on the state’s fiscal strategy and its Public Financial Management Reform to include improvements in efficiency and effectiveness of spending, greater control of the state wage bill, boosting revenue generation by identifying and blocking leakages, and directing capital expenditure to critical infrastructure such as road, housing, education, health, and other thematic areas of job creation, youth engagement, infrastructure, and utilities, public sector and pension reforms.
The Governor noted that the objective of the 2025 budget is to improve quality of education at all levels, improve access to healthcare, ensure food security, expand trade and commerce, create opportunities for youth development, improve road networks in urban and rural areas improve the quantity, quality and access to safe water among others.
Our Kogi State Correspondent, reports that Ododo further noted that the key goals of the 2025 budget are to boost internally generated revenue, pursue debt repayment, foster conducive business environment, encourage public private partnerships, block wastages and leakages in revenue streams and prioritise completion of ongoing projects and programmes while introducing new critical projects aligned with the state’s 32-year development plan.
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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