Bello Presents N147,827,854,494 Budget For 2018 Fiscal Year

Bello Presents N147,827,854,494 Budget For 2018 Fiscal Year

Bayo Oyewale, Lokoja

Kogi State Governor, Alhaji Yahaya Bello has presented a total of N147, 827,854,494 budget for 2018 fiscal year to the State House of Assembly for approval.

While presenting
the budget at hallow chamber of Kogi State House of Assembly on Thursday,the  Governor stated that his administration has prepared the budget in line with best international practices.

Bello explained that the appropriation bill is therefore divided into two, recurrent expenditure in 2018 is N63,829,361,233, while the capital expenditure is 83,998,493,261.

The budget which was tagged as our budget of sustainable growth, stressing that the fiscal strategy of the government is anchored on the on going public Financial Management Reform (PFM) ovet2018- 2020 government fiscal policy directed at improving efficiency and effective spending.

“Our lofty aspirations have found expression in in the 2018 budget. The specific fiscal  objective is effective allocaton of scarce resources to identified critical programmes and projects with major target,”he added.

Bello also noted that the total package for 2018 is N147,827,854,494 as against N185, 057,774523 approved for 2017 ,noting that there is a decrease of N44,492,890,029 which represent 24 per cent.

The. Governor who had highlighted the success of 2017 budget said that the budget prioritized citizens welfare and directed the bulk of the spending towards improving the stabeard of living .

He stated that the modest budget performance was recorded was recorded in 2017 is a rude reminder that the socio economic adverstities in the Country was inherited by the present administration.

“This approach was in line with the five cardinal themes of new direction blueprint and helped us to achieve sustainable growth in the human and infrastructure development indicies which caught the eyes of the international coimmunity.

“In 2017,the Oxford Poverty and Human Development initiative released a multidimensional poverty index(MPLs), which the global benchmark for poverty mapping adopted by United Nations and her agencies.

“The report investigates global poverty as  multidimensional phenomenon using 10 indicators at household level. in Nigeria briefing, Kogi poverty rate dropped by several decimal points from 26.4 percent to26.1 percent, the governor said.