The Kogi House of Assembly, on Thursday, passed over N145.8 billion budget for the 2022 fiscal year into law.
The budget tagged: ”Budget of accelerated result” is made up of N90.1 billion representing N61.79 per cent recurrent expenditure and N55.7 billion representing N38.1 percent capital expenditure for the 2922 fiscal year.
The Speaker of the House, Prince Mathew Kolawole, in his speech, described the state’s 2022 budget as “very realistic” and met the timely approval of the house.
Kolawale explained that the state’s 2022 budget followed the adoption of the report of the house committee on appropriation, fiscal planning and budget monitoring l at plenary. ”
“The committee considered the bill clause by clause and approved the respective funds allocated for both recurrent and capital expenditures,” he stated.
The Speaker pledged the lawmakers’ unflinching readiness to synergies with the executive to ensure effective and efficient supervision in the implementation process of the budget.
He noted that one fact was that budgets have always been well conceived but their implementations have always been the challenge.
“But we, Lawmakers, who are equally. co-managers of the economy and drivers of development, we shall join hands with the Executive to ensure that this budget is well implemented for the good of our people, ” he assured.
The News Agency of Nigeria (NAN) reports that Gov. Yahaya Bello had on Oct. 28 presented the 2022 budget to the state House of Assembly for perusal and approval.
Bello said that the key target for the 2022 budget was to ensure that lives of residents are positively touched through the actualization of government’s development plans and priorities.
He also pledged prompt maintenance of a favourable proportion of Capital to Recurrent expenditure, completing all on-going projects and adding new projects in areas of critical need as well as expanding revenue generation.
According to him, over dependence on federal allocation would drastically be reduced within the fiscal year as focusing IGR would be the order of the year.
(NAN)
