Kogi State Governor, Capt. Idris Wada has presented the 2016 Budget to the State House Assembly.
Presenting the 75 Billion Naira Appropriation Bill estimate christened, ‘Budget of Consolidation’ at the House of Assembly Complex in Lokoja, Capt. Wada said the 2016 budget is aimed at financing critical programmes and projects in keys areas of need that will positively impact the lives of the people of the state.
The Governor who said the budget estimate is aimed at completing all on-going programmes and projects in critical areas of need, noted that budget also signifies the commitment of the government to expand the revenue base of the state, enhance greater accountability and transparency in public expenditure, produce a conducive environment for investors and donor agencies, reduce the level of domestic debt, and to rely on Build Operate and Transfer (BOAT) and other contractor-finance instruments to accelerate growth and development in the state.
Total of the 2016 draft budget presented to the House of Assembly is Seventy-Four Billion, Nine Hundred and Ninety-Six Million, Two Hundred and Forty-one Thousand, Three Hundred and Eighty-one Naira (N 74, 996, 241, 381.00) out of which the sum of Forty-five Billion, Three Hundred and Thirty-Seven Million, Seven Hundred and Fifty-six Thousand , Three Hundred and forty-one Naira (N45, 337, 756, 341.00) representing 60.45 percent is for recurrent expenditure while the sum of Twenty-nine Billion, Six Hundred and Fifty-eight Million, Four Hundred and Eighty-five Thousand and Forty Naira (N29, 658, 485.40) representing about 39.55 percent of the total budget.
This the Governor said the 2016 budget estimate of N 74, 996, 241, 381.00 is N13, 620, 829, 473 or 15.37 percent less than the Eighty-eight Billion, Six Hundred and Seventy Million, Seventy Thousand, Eight hundred and Fifty-four Naira (N88, 670, 7,0854) approved budget for 2015.
According to Governor Wada: “the state government has carefully drafted the 2016 budget to enhance internally-generated revenue, aggressively pursue the payment of debt owed us by the federal government, provide more conducive environment for our development partners to contribute to the economy of our state, and more importantly to block all wastages and leakages in our revenue generation as well emphasise the completion of on-going projects and to reduce the cost of running government.”
The Governor further noted that the proposed 2016 budget is indicative of a sincere and very frank assessment of what the state can generate internally and what is obtainable from the federation account.
In his remark, the Speaker of the Kogi State House Assembly, Honourable Momoh Jimoh Lawal promised that the House will ensure accelerated passage of the 2016 budget in the interest of the people of the state.
He commended the Governor for ensuring harmonious working relationship between the executive and the legislature in the state, assuring that members of the House remain committed as partners in the development of the state and will not let the people down in the discharge of their constitutional responsibilities.