Governor Yahaya Bello of Kogi on Wednesday presented the N172 billion 2023 Appropriation Bill to the state House of Assembly for deliberation.
Presenting the budget entitled: “Budget of Transformation”, Mr Bello said the 2023 budget is geared towards providing peace and security, improving quality education at all levels, and democratising access to healthcare delivery.
Mr Bello explained that “the 2023 budget is higher by N4.79 billion compared to the 2022 budget, thus representing a 2.86 per cent increase as against an estimated outlay of N167.30bn approved budget for the year 2022.
“The 2023 budget is made up of N101.3 billion recurrent expenditure, representing 58.87 per cent of the budget and N70.7 billion capital, representing 47.13 per cent of the budget.
“The 2023-2025 multi-year budget, which is premised on zero-based budgeting principles, is tailored towards the actualisation of the state development plan,” he said.
The governor said the budget was geared towards creating employment, achieving sustainable development and promoting social, and economic development through culture and tourism.
He also said it aimed to establish the necessary framework for a robust mining and solid minerals sector, improve the road network in urban and rural areas, and improve the quantity, quality and access to safe water for domestic, commercial and industrial purposes.
A breakdown of the budget shows that the administration has an allocation of N40 billion, representing 21.94 per cent of the budget; economy — N53 billion — representing 31 per cent; law and justice — N7 billion — representing 4.14 per cent; social N63 billion — representing 36.69 per cent of the budget.
Receiving the budget, the speaker of the house, Matthew Kolawole, assured the governor of due diligence in the study and quick passage of the budget in the interest of the people of Kogi.
Kolawole commended the governor for preparing and presenting a people-oriented budget for the 2023 fiscal year to the house.
Source: Peoples Gazette.