Kogi State Government has proposed the sum of ₦130,546,068,026 as it’s estimated budget for the year 2021.
Presenting the budget which he described as a balanced one and code – named; “Budget of Accelerated Recovery” has a policy statement which extends from 2021 to 2023 to have improved efficiency and effective spending among others.
Of the amount proposed, ₦74, 047, 160, 482 representing 56.72% is expected to represent the recurrent expenditure with 56, 498, 068, 026 or 43.28% representing the capital expenditure.
Sector allocations have Administration, Economic, Law and Justice and Social. While Administration got 43, 453, 592, 566 (33.28%); Economic was allocated 35, 203, 688, 981 (26.97%); Law and Justice has 5, 917, 291, 902 (4.53%); and the social sector got 45, 971, 494, 577 (35.22%).
The budget policy, the Govenror noted, was anchored on the fact that the fiscal policy is tied to the ongoing Public Financial Management (PFM) Reform, hence, improving the efficiency and effectiveness of spending, better balance between capital and recurrent expenditures, achieving greater control of the wage bill are some of the objectives of the state government from 2021 to 2023.
The fiscal policy is also directed at boosting revenue receipts by identifying leakages, gradual fiscal consolidation in order to achieve a level of public spending consistent with stability and sustainable debt are also part of the objectives within the same period.
The budget targets specific objectives of effective allocation of resources to identified programmes and projects, Governor stressed.
Some of the areas of priority are meant to improve the quality and affordability of education to all citizens in order to produce articulate and skilled manpower required for economic transformation for the State.
Governor Bello also said the objective would improve quality access to healthcare services, exploit full commercial potentials of the state and expand trade to ensure the products from agricultural and industrial activities have access to both local and international markets.
According to the Govenror, the target also include to achieve gainful employment for the youth, create entrepreneurship opportunities especially in the agricultural information technology sectors and develop talents for livelihood, among numerous other objectives.
The Govenror thanked the state assembly members for their overheating support to his government and the cordial working relationship his administration enjoys, and urged them to sustain the tempo.
In their separate remarks, the Speaker, Hon Matthew Kolawole and select officers from the three senatorial districts of the state had expressed gratitude to the Govenror for his remarkable achievements since assumption of office and restated their commitment to harmonious relationship with the executive.