Connect with us

Economy

Yahaya Bello presents N145.8bn 2022 Budget proposal to Kogi Assembly

Published

on

Yahaya Bello presents N145.8bn 2022 Budget proposal to Kogi Assembly

…… Said budget to achieve macroeconomic objectives, good governance

Governor Yahaya Bello has presented an appropriation bill, a budget expenditure of N145.8 billion for fiscal year 2022, to the Kogi House of Assembly for “frank consideration and approval.”

Introducing the appropriations bill labeled “Accelerated Results Budget” to the assembly on Thursday in Lokoja, Bello said the total budget was divided into recurrent expenditure of 90,151 billion naira representing 61.79 percent.

Capital expenditure, he said, stands at 55.744 billion naira, or 38.21 percent, adding that the total budget for the year 2022 was 145,896,072,913 naira compared to the revised budget of 160.560 billion naira. for the year 2021.

“This represents a decrease of 14.664 billion naira or 9.13% from the revised budget of 2021,” he said.

According to the governor, out of the total recurrent income estimated at 96.792 billion naira, the estimated personnel costs for the period are 45.119 billion naira while 45.031 billion naira corresponds to overheads, or 151 billion of total recurrent expenditure for the period. the year. 2020.

He gave the total budget expenditure as follows: Administration – N50.23 billion representing 34.43 percent and economic – N41.926 billion representing 28 percent.

The others are law and justice – 4.720 billion naira representing 3.24 percent and social – 49.015 billion naira representing 33.6 percent.

The Governor noted that accountability and open governance begins with a timely and transparent presentation of government revenues, proposed spending plan and performance levels and committed to honest, realistic and sustained budget implementation. of the year 2020 as usual.

“In order to maintain this commitment and avoid derailment, we have taken into account in this budget policies, results and objectives compatible with the Sustainable Development Goals (SDGs) identified in our guiding documents as the most urgent specter. of our population, ”he said.

Bello also pledged, on behalf of his administration, to complete every project they started in the 21 local government areas and pay contractors while reducing governance costs for the benefit of the people.

Speaking earlier, House Speaker Prince Matthew Kolawole described the budget as an important political tool that allows the executive and the legislature to collaborate in managing the state’s economy for an allocation fair and resource efficient.

He stated that the power of the Assembly to approve budgets includes the power to analyze, debate, modify and promulgate the forecasts presented.

He said the processes were designed to achieve a realistic allocation of resources and optimal opportunities for the people, but regretted that although budgets have always been well designed, implementation remains a major challenge.

Kolawole therefore urged all ministerial departments and parastatals to be more aware of their responsibilities and to avoid any trends that could hinder the process of successful budget implementation.

He commissioned from the governor some of the flagship projects being carried out in the three senatorial districts of the state and particularly implored the governor to rehabilitate the Hassan Usman Katsina road leading to the State Assembly and High Court. , among others.

He assured that the House would give the 2022 Appropriation Bill rapid passage to allow the government to begin its implementation in earnest.

The Nigeria News Agency reports that Bello presented 130.5 billion naira for the 2021 budget.

He said the budget is divided into recurrent expenditure of N70.04 billion representing N56.72 percent and capital expenditure of N56.49 billion representing N43.28 percent.

He said the total estimated recurrent revenue from the budget was 82.4 billion naira, of which 20.9 billion naira will be made from internal sources, while 45.4 billion naira comes from the national account. federation.

Source: NAN

Short Link: https://wp.me/pcj2iU-3DzD

NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng. Disclaimer.