The Kogi State Governor, Alhaji Yahaya Bello, on Monday, presented an appropriation bill of N258,278,501,339.00 for the year 2024 before the Kogi State House of Assembly for approval.
This will be the last budget Governor Bello presents before leaving office on January 27th, 2024.
The proposed budget for 2024 is N258,278,501,339.00, compared to the revised approved budget of N197,599,674,912.00 for the year 2023. Tagged as the “Budget of Consolidation and Continuity for Inclusive Growth,” Governor Bello disclosed that the 2024 draft budget is higher by N60,678,826,427.00, representing a 30.71% increase over the 2023 revised budget.
“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 2024 draft budget has been designed to enhance Internally Generated Revenue, aggressively pursue the repayment of debts owed to us by the Federal Government, provide a 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-Private Partnership (PPP), and, more importantly, block all wastages and leakages in our revenues. It also emphasizes the completion of all ongoing projects/programs while bringing on board a few new critical ones that align with the priorities of the New Direction Administration,” he stated.
Bello added that some of the critical areas the 2024 budget will focus on include good governance and leadership, infrastructural development and maintenance, education and human development, improved healthcare and social welfare, agriculture and rural development, security and peace-building, women empowerment, and gender equality.
Other critical areas the 2024 budget will focus on, according to Governor Bello, are environment and sustainable development, industry and commerce, information and communication technology and innovation, youth empowerment and sports development, entertainment, culture and tourism development, housing, enhanced internally generated revenue, water, and sanitation.
“We have tried to ensure that our good governance aspirations find expression in the 2023 Budget, with the specific fiscal objective being the effective allocation of scarce resources to identified critical programs and projects.
“It is now my pleasure to formally present to you the year 2024 Draft Budget, otherwise known as our ‘Budget of Consolidation and Continuity for Inclusive Growth,’ for your deliberation and, hopefully, accelerated approval. As I bid farewell to this Honourable Assembly today, I wish to extend my heartfelt gratitude again for your dedication to our State and People over the years and commitment to the growth and success of our dear State.
“As January 27th, 2024, when I will wind down my Administration approaches and we all prepare to welcome the new Government of His Excellency, Governor-Elect Ahmed Usman Ododo, it is my heartfelt desire that you extend even greater levels of cooperation to him.
“I look forward to seeing the incoming Administration building on the foundation laid by mine while working together with all stakeholders across the State to achieve even greater heights than we did. Let us, therefore, embrace this transition with excitement and optimism, knowing that our collective efforts will propel our State to new horizons.
“I thank my Team for their faithful service. We came from different backgrounds and united for the best interests of our State and people. Despite notable hiccups, we have become a family that cannot be broken. We will work through any problems we may have with each other and find common ground from which to mentor our successors and move on to the next levels of our own lives and careers.”
Earlier in his address, the Speaker, Kogi State House of Assembly Rt. Hon Aliyu Umar Yusuf noted that the budget is expected to reflect 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 prioritizes 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 overhaul 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 the 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 the government tax net, blocking leakages, centralized revenue generation, and ensuring that other means of gathering revenues are explored to enable the government to provide essential services to the citizens.”
