The Kogi State Governor, Yahaya Bello, has presented the sum of N130,546,068,026 as against N122,970,958,009 of the Amended Budget for year 2020 as the 2021 budget before the state’s House of Assembly.
As stated, the total Budget package for the year 2021 represents an increase of N7,575,110,017 or 6.16% when compared with the 2020 final Budget.
Presenting the budget termed ‘accelerated recovery’ to the lawmakers, Bello stated that the government’s fiscal strategy was anchored on the on-going Public Financial Management Reform (PFM) and that the policy was directed at improving the efficiency and effectiveness of spending.
Others, he said, was aimed at achieving better balance between capital and recurrent expenditure, achieving greater control of the wage bill, and directing capital expenditure on critical infrastructure.
Also included were boosting revenue receipts by identifying and blocking revenue leakages; and gradual fiscal consolidation in order to achieve a level of public spending consistent with macroeconomic stability and sustainable debt.
Giving breakdown of the budget, the governor disclosed that the draft revenue Budget has an estimated outlay of N130,546,068,026.
He added that the total budget outlay of N130,546,068,026 was divided into recurrent revenue of N82,464,412,854 representing 63.17% and capital receipts of N48,081,655,172 representing 36.83%.
On the objectives and target of the 2021 budget, Bello said that the specific fiscal objectives of his administration was effective allocation of scarce resources to identified critical programmes and projects for development of the state and betterment of its citizens.