africa

Recurrent takes N90bn as Kogi budgets N145bn for 2022


The Kogi State governor, Yahaya Bello, has presented a budget of N145.89bn for the 2022 fiscal year to the state house of assembly.

The proposed budget tagged ‘Budget of Accelerated Result’ was presented to the State House of Assembly for consideration on Thursday during the plenary session.

The governor said, “The COVID-19 pandemic has yet to relax its painful grip on the collective jugular of the nations of the world. The socioeconomic ravages of the disease are showing no signs of significant abatement.”

According to Bello, the budget is divided into recurrent expenditure of N90.1bn and capital expenditure of N55.7bn. He added that the budget would be funded by N23.2bn from internal sources, N49.5 bn from the federation account, N19.6bn projected Value-Added Tax revenue, N100m from excess crude, and N1bn from exchange difference.

He added, “From the foregoing, we have a total estimated Transfer Surplus of N6.64bnas Capital Development Fund.

“The estimated Capital Receipt is N49.10bn comprising Capital receipts analysis by economic, Aids and Grants. However, if the Transfer Surplus of N6,64bn is added to this amount, we shall have N55.75bn as fund available for capital development projects.”

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