Governor Yahaya Bello, yesterday, presented a budget estimate of N130 billion for 2021 to the Kogi State House of Assembly.
During the presentation of the financial document, he tagged “Budget of Accelerated Recovery” in Lokoja, the governor said the N130, 546,068,026 figure was an improvement on the N122, 970,958,009 amended Appropriation Act for 2020.
According to him, the proposal for 2021 is N7, 575,110,017 or 6.16 per cent better than the one of the outgoing year.
He said the fiscal strategy of government was anchored on the ongoing Public Financial Management Reform (PFM).
His words: “Over the period, 2021-2023, the state government’s fiscal policy is directed at improving the efficiency and effectiveness of spending, achieving a better balance between capital and recurrent expenditure, and also achieving greater control of the wage bill.”
The governor disclosed that the draft revenue budget has an estimated outlay of N130, 546,068,026.
“This total budget outlay of N130, 546,068,026 is divided into recurrent revenue of N82, 464,412,854, representing 63.17 per cent, and capital receipts of N48, 081,655,172, representing 36.83 per cent,” he clarified.
On the objective of the 2021 budget, Bello said Kogi was prioritising effective allocation of scarce resources to critical programmes and projects to enhance quality and affordability of education by citizens at all levels for better manpower that translates to economic transformation.
He stressed that the budget would also improve access to quality healthcare, leading to improvement in the efficiency of service delivery to ensure food security and robust GDP from agriculture besides full exploitation of the state’s rich endowments.
The governor said his administration also hopes to engage youths gainfully, create entrepreneurship opportunities, especially in agriculture and Infotech, in addition to honing their talents and promoting social cum economic development through culture and tourism.
Bello equally wants to rebrand Kogi as the foremost mining and minerals exploitation destination in the country, among others.