Breaking News: Governor Bello Unveils Kogi Assembly With N258.2 Billion Budget Proposal For 2024

Kogi State Governor, Yahaya Bello, has presented a 2024 budget proposal totaling N258,278,501,339.00 to the Kogi State House of Assembly. This marks Governor Bello’s final budget presentation before the end of his tenure on January 27th, 2024. The proposed budget reflects a significant increase of N60,678,826,427.00 (30.71%) compared to the revised 2023 budget of N197,599,674,912.00, emphasizing consolidation and continuity for inclusive growth…….CONTINUE READING

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The budget breakdown comprises recurrent expenditure of N145,736,429,609.00 (56.43%) and capital expenditure of N112,542,071,730.00 (43.57%). Governor Bello outlined the strategic goals of the 2024 budget, including enhancing Internally Generated Revenue, debt repayment, creating an enabling environment for development partners, attracting private sector investments, promoting Public-Private Partnerships (PPP), and addressing revenue leakages. The focus areas encompass completing ongoing projects, initiating critical new ones, and aligning priorities with the New Direction Administration.

Key sectors targeted by the 2024 budget include good governance, infrastructural development, education, healthcare, agriculture, security, women empowerment, gender equality, environment, sustainable development, industry, commerce, information and communication technology, innovation, youth empowerment, sports development, entertainment, culture, tourism, housing, enhanced internally generated revenue, and water and sanitation.

Speaker Aliyu Umar Yusuf acknowledged resource constraints and urged prioritization of investments in the state’s future. He emphasized the need to overhaul the fiscal policy to diversify revenue sources, suggesting measures such as expanding the tax net, blocking leakages, centralizing revenue generation, and exploring alternative means to ensure effective governance and provision of essential services.

Source: Bushradiogist