Governor Yahaya Bello on Wednesday presented a total budget estimate of N172 billion to the Kogi State House of Assembly for approval.
The 2023 budget tagged budget of transformation, according to Gov. Bello is higher by N4,788,825,095,00 compared to the 2022 budget, thus representing a 2.86% increase in reach as against an estimated outlay of N167,301,962,197,00 approved budget for year 2022.
Gov. Bello, while presenting the budget he referred to as the peoples budget to members of the Kogi State House of Assembly, said the 2023-2025 Multi year budget is premised on zero based budgeting principles, is tailored towards the actualization of the State development plan.
He disclosed that the 2023 budget objectives and targets is geared towards peace and security, improving quality education at all levels, democratize access to health care by sustained improvement in the efficiency of health the state health care delivery system and infrastructure.
Similarly, the budget Gov. Bello is to ensure food security, exploit the full potentials of the economy, ensure that products from agricultural and industrial activities have access to markets locally and Internationally.
The budget Gov. Bello explained is geared towards creating employment, achieve sustainable development and promote social economic development through culture and tourism.
The 2023 budget which has a recurrent expenditure of N101,315,129,341 representing 58.87% of the budget, has N70,775,657,951 as capital, representing 47.13% of the budget, will also aim at establishing the necessary framework for a robust mining and solid minerals sector, improve road network in urban and rural areas as well as improve the quantity, quality and access to safe water for domestic, commercial and industrial uses.
A breakdown of the budget shows that administration has a total allocation of N40 billion representing 21.94% of the budget; Economic N53b representing 31%; Law and Justice N7b representing 4.14%; Social N63b representing 36.69% of the budget.
The budget according to Gov. Bello has an estimated revenue of N172b, estimated expenditure of N172b, thus representing a balanced budget of N172, 090,787,292 for the 2023 fiscal year.
