A BUDGET of N145.89b has been presented to the state house of assembly by the Kogi State governor, Yahaya Bello, for the 2022 fiscal year.
The proposed budget was tagged ‘Budget of Accelerated Result’ and was presented to the State House of Assembly for consideration on Thursday during the plenary session.
Governor Bello said, “The COVID-19 pandemic has yet to relax its painful grip on the collective jugular of the nations of the world. The socioeconomic ravages of the disease are showing no signs of significant abatement.”
According to him, the budget is divided into recurrent expenditure of N90.1b and capital expenditure of N55.7b, adding that the budget would be funded by N23.2b from internal sources, N49.5b from the federation account, N19.6b projected Value-Added Tax revenue, N100m from excess crude, and N1b from exchange difference.
He added that, “From the foregoing, we have a total estimated Transfer Surplus of N6.64bnas Capital Development Fund.
“The estimated Capital Receipt is N49.10b comprising Capital receipts analysis by economic, Aids and Grants. However, if the Transfer Surplus of N6,64b is added to this amount, we shall have N55.75b as fund available for capital development projects.”
