The budget proposal was presented to the assembly members at Monday’s plenary held at the newly renovated assembly complex.
Monday’s plenary was the first after the fire that gutted the complex on October 10, 2022.
The budget termed ‘Budget of consolidation and continuity for inclusive growth’ is the last budget Bello will be presenting before the hallow chamber before exiting office on January 27, 2024.
The 2024 proposed budget of N258.2bn budget is against the N197.5bn revised approved budget for the year 2023.
Bello disclosed that this makes the 2024 draft budget higher by N60.6bn compared to the 2023 revised budget, representing a 30.71% increase.
“This total budget outlay is divided into recurrent expenditure of N145.7bn representing 56.43% and capital expenditure of N112.5bn representing 43.57%.
“The year 2024 draft budget has been drafted to enhance Internally Generated Revenue, aggressive pursue repayment of debt owned to us by the Federal Government, provide more conducive environment for our Development Partners across the world to contribute to the state economy; mobilise private sector investments to the State; encourage Public-Private Partnership (PPP) and more importantly, block all wastages and leakages in our revenues as well as emphasize the completion of all on going projects/programs while bringing on board, few new critical ones that are in line with the priorities of the New Direction Administration,” he stated.
Bello added that some of the critical areas of the state economy that the 2024 budget will focus on include good governance and leadership, infrastructural development and maintenance, education and human development, improved health care and social welfare, agriculture and rural development, security and peace building, Women empowerment and Gender equality.
Other critical areas the 2024 budget will be focusing on, according to Governor Bello, are environment and sustainable development, industry and commerce, information and communication technology and innovation, youth empowerment and Sport development, entertainment, culture and tourism development, housing, enhanced internally generated revenue,Water and Sanitation.
The governor said, “We have tried to ensure that our good governance aspirations find expression in the 2023 Budget, with the specific fiscal objective being effective allocation of scarce resources to identified critical programmes and projects
“It is now my pleasure to formally present to you the year 2024 Draft Budget, otherwise known as our “Budget of Consolidation and Continuity for Inclusive Growth” for your deliberation and. hopefully, accelerated approval. As I bid farewell to this Honourable Assembly today, I wish to extend my heartfelt gratitude again for your dedication to our State and People over the years and commitment to the growth and success of our dear state.
“As January 27, 2024 when I will wind down my Administration approaches and we all prepare to welcome the new Government of His Excellency, Governor-Elect Ahmed Usman Ododo, it is my heartfelt desire that you extend even greater levels of cooperation to my him.
“I look forward to seeing the incoming Administration building on the foundation laid by mine while working together with all stakeholders across the State to achieve even greater heights than we did. Let us therefore embrace this transition with excitement and optimism, knowing that our collective efforts will propel our State to new horizons.
“I thank my team for their faithful service. We came from different backgrounds and united for the best interests of our State and people. Despite notable hiccups, we have become a family that cannot be broken. We will work through any problems we may with each other and find common ground from which to mentor our successors and move on to the next levels of our own lives and careers.”
Earlier in his address, the Speaker, Kogi State House of Assembly, Rt. Hon Aliyu Umar Yusuf, noted that the budget is expected to be a reflection of the resolve of the people of the state to address their critical needs
“While I understand the resource constraints we face as a state which is not peculiar to us, I hope the budget would prioritise investment in the future of the state by consolidating and solidifying the areas the state has recorded positive gains and areas of advantage.”
The Kogi Assembly Speaker stressed the need for the overhaul of the state fiscal policy in view of the continued dwindling of our resources.
He said, “You will agree with me that the habit of wholesomely or largely depending on the Federation Allocation is no longer feasible as it is affecting the ability and preparedness of government to provide effective governance.
“It is high time we explore alternative means of funding the budget. This could be in the form of expanding government tax net, blocking leakages, centralized revenue generation, and ensuring that other means of gathering revenues are explored to enable government provide provide essential services to the citizens.”
