Governor Yahaya Bello of Kogi State has presented an appropriation bill of N147.8 billion for the 2018 fiscal year before the state assembly for approval.
The appropriation bill which is tagged ”Budget of sustainable growth,” has recurrent expenditure of N63.8 billion representing 43.18 per cent and capital expenditure of N83.9 billion representing 56.82 per cent.
Bello said the proposal was prepared in line with international best practices and aimed at addressing critical infrastructure such as road, housing, education, health and other thematic areas of his government such as job creation, youth empowerment, public sector and pension reforms amongst others.
He said the package was about N44.4 billion less than the 2017 revised approved budget of N185billion.
Bello explained that the reduction in the estimates was due to current the lull in the economy which had affected revenue accruals to the state.
The Speaker of the Kogi State Assembly, Matthew Kolawole, assured that the assembly would give the budget speedy consideration and approval.
Also, Gombe State Governor, Ibrahim Hassan Dankwambo yesterday presented the 2018 appropriation bill of N104.9billion to the state House of Assembly.
Presenting the proposal tagged “Budget of Enhance Growth and Development,” Dankwambo said it was designed to enhance growth and economic development of the state.
The governor said the budget has N51.9 billion as recurrent expenditure and N52.9 billion as capital expenditure.
He said the approximations will be financed by an estimated recurrent revenue of N68.2 billion and capital receipts of N53.3billion, with a deficit of N16.9 billion to be financed by internal and external borrowing.
Dankwambo said the 2017 budget recorded recurrent performance of 66.46 per cent, while capital expenditure has 38.88 per cent budget performance, and a total performance of 2017 budget at 54.36 per cent as at October 31.
The governor said projected Internally Generated Revenue (IGR) to finance the budget was N8.5billion and N33.5billion from statutory allocation as well as N20.7 billion from other sources.
In his response, the Speaker of the House of Assembly, Alhaji Nasiru Abubakar Nono, promised speedy passage of the budget.