… present N130.5bn 2021 “budget of Accelerated Recovery” proposal To State Assembly
Governor Yahaya Bello of Kogi State on Tuesday, presented an estimated outlay of N130.5 Billion as 2021 budget to the State House of Assembly for approval.
Presenting the budget tagged “Budget of Accelerated Recovery”, the Governor said the budget is divided into Recurrent Expenditure of N74.04bn representing 56.72 percent, and Capital Expenditure of N56.49bn representing 43.28 percent.
According to him, the 2021 appropriation bill has an increase of N7.5 billion representing 6.16 per cent when compared with the N122 bn revised 2020 Budget.
“The total estimated recurrent revenue of the budget is N82.4 billion consisting of N20.9 billion which will be realised from internal sources, N45.4 billion from the federation account, N13.5 billion revenue expected from Value Added Tax (VAT), N120 million from Excess crude and N1billion from exchange differentials.
He stated that the fiscal strategy of his administration was anchored on the on-going Public Financial Management Reform (PFM).
“Over the period 2021-2023, that the State Government fiscal policy is directed at improving the efficiency and effectiveness of spending; achieving better balance between capital and recurrent expenditure and also achieving greater control of the wage bill” he said.
“The specific fiscal objectives of Kogi State is effective allocation of scarce resources to identified critical programmes and projects.
“The 2021 budget will follow major targets to improve the quality and affordability of education available to citizens at all levels in order to produce the articulate and skilled manpower required for economic transformation of the State.
“The budget will improve quality and access to healthcare leading to improvement in efficiency of the healthcare delivery system, to ensure food security and generate a high proportion of the GDP from agriculture.
“The 2021 budget will ensure gainful employments for the youths, create entrepreneurship opportunities, especially in Agriculture and Infotech.”
Speaking on road, governor Bello said it will improve the road network in the State through continued construction of new roads and bridges and rehabilitation of existing ones in both urban and rural areas.
He however bemoaned the 22.2 percent performance of the 2020 budget; a development he blamed on covidy pandemic and economic recession.END