Governor Yahaya Bello has presented a budget estimate of N258. 27 billion to the Kogi state House of Assembly for approval.
The 2024 budget estimate tagged: “The budget of consolidation and continuity for inclusive growth” was divided into recurrent expenditure of N145,736,429,609:00 representing 56.43% and capital expenditure of N112,542,071,730:00 representing 43.57%.
While presenting the 2024 draft budget to the House of Assembly for consideration and approval Monday at the hallow chamber of the assembly in Lokoja , Governor Bello stated that the total budget package for year 2024 is N258,278,501,339:00 with an increment of N60,678,826,427:00 which represented 30.71% when compared with the approved reviewed budget for year 2023 which was N197,599,674,912:00.
Speaking on the total estimated recurrent revenue for the 2024 budget, the governor said “the recurrent revenue for the year 2024 stands at N168,406,138,861:00 consisting of N30,235,332,685:00 from internal sources while N85,650,179,027 will come from statutory allocation from the Federation Account among others.
According to him “The estimated Personnel Cost, Overhead Cost and Public Debt Charges for the same period stand at N65,071,493,479:00, N56,693,794,550:00, N8,871,141,580:00 and N15,100,000,000:00 respectively, putting the total recurrent expenditure for 2024 at N145,736,429,609:00.”