Yahaya Bello, governor of Kogi State, has presented 2019 Budget of N146,730,042,510 christened “budget of consolidation”.
While presenting his budget, Bello disclosed that even though there is a margin between 2018 and 2019 Budget his administration was working hard to make sure that the state gets rid of poverty and the masses benefit from the dividend of democracy.
Bello disclosed that the proposed 2019 Budget has an estimated outlay of N146,736,042,510, saying the budget outlay was divided into Recurrent Expenditure of N71,841,314,458, representing 48.96 percent and Capital Expenditure of N74,984,728,051 which also represents 51.04 percent.
According to him, the breakdown of the budget is as follows Administration was allocated 45,198,834,158 (30.80percent) Economic 51,753,811,012 (35.27percent) Law and Judiciary 7,446,791,251 (5.08 percent) Social 42,336,606,089 (28.85percent) which brings the 2019 fiscal budget to N146,736,042,510.
He also said his administration has budgeted a total recurrent revenue of N104,341,267,719 consisting of N20,172,740,733 from internal sources, N60972,262,719 as state’s share from the Federation Account, N17,500,000,000 revenue from Value Added Tax (VAT), N2,243,973,366 from Excess crude , N130,893,199 as refund from Federal government, N2,000,000,000 from Non Oil Revenue, N200,698, 829 from Foreign Exchange Equalisation and N120,698,829 from Access Bank charges.
The governor also said the Recurrent Revenue for the year 2019 stands at N104,341,267,675, out of the above figure, the estimated personnel cost for the period is N36,153,682,517 whereas N35,687,63 is overhead coats thereby giving N71,325,314,459 as a total recurrent expenditure for the year 2019.
He further explained that from the foregoing his administration has a total estimated Transfer Surplus of N33,015,953,216 as Capital Development Fund, adding that the estimated Capital Receipts is N42,394,774,835 which he said comprises Capital receipts analysis by economic, Aids and Grants. However, if the transfer surplus of N33,05,953 216 is added to this amount, his government shall have N75,410,728,051 as fund available for capital development projects.
The governor also said by a combination of budgeting best practices and development partner demands, it is therefore, incumbent on the state to present a realistic and implementable budget going forward, adding that 2019 -2021 multi-year budget is based on conservative and realistic projections.
It could be recalled that 2018 Budget was N151,677,854,494 for both Recurrent and Capital Expenditure; he stated that the total recurrent revenue approved for 2018 was N90,834,787,658 out of which N46,895,199,757 was collected as at the end of August, 2018, representing 51.63 percent performance.
Bello also disclosed that the approved capital receipts for 2810 was N60,843,066,836 out of which N4,312,376,201 was realised and it represents 7.09 percent performance as at the end of August 2018.
Governor Bello equally said that N66 ,694,526,233 was approved for recurrent expenditure , however, only N28,506,097,331 which represents 42.74 percent performance spent as at August 2018 .
He further explained that out of N84,983,328,261 approved only N13,812,132,688 which represents 16.25 percent performance was expended as at August 2018, stressing that the lean performance was due to current economic downturn in the country which he said has bedeviled the state’s expectations from various sources.
Victoria Nnakiaike, Lokoja
