From Joseph Amedu, Lokoja
Governor Yahaya Bello of Kogi state on Wednesday presented an appropriation bill of N176,123,091,931 billion for 2020 fiscal year to the State House of Assembly for approval .
The Governor who was represented by his Deputy, Edward David Onoja said that the 2020 budget is tagged Budget of Prosperity.
He pointed out that the state government has budgeted a total estimated recurrent revenue of N92, 932,509,251 and estimated capital receipt is N83,190,582, 690 billon .
“The total budget package for the year is N176, 123,091,931 as against 158,172,060,971 revised budget for 2019 .This represents an increase of of N17,951, 030,960 billion or 10.19% when compared with the 2019 revised budget” ,he stressed .
According to him, the recurrent revenue of N92,932,,509,241 consisting of N21,032,117,213 billion from internal sources , N50,428,800,000 as state share from the federation Account .N17,500,000,000 revenues from value added tax VAT , N120, 000,000 from excess crude oil , N 100,000,000 from exchange difference ,,130, 898,199 as refund from Federal government, 2,000,000,000 from non oil revenue, 1,500,000,000 from forex equalisation and 120,698,829 from excess bank charges .
Bello noted that Recurrent revenue for the year 2020 stands as 92,932,509 ,241out of above figure ,the estimated personnel cost for the period is 33,512,241,598 ,whereas 46,456, 887,139 is overhead cost ,thereby giving 78,969,128,737 as total recurrent expenditure for the year 2020.
“The total capital receipts is 83,190,582, 690, comprising capital receipts analysis by economic ,Aids and grants ,however if the transfer surplus of 13,963,380,504 is added to this amount we shall have 97, 153,963 194 as fund available for capital development , the governor said.
In his welcome address, the Speaker of Kogi State House of Assembly, Rt Hon Matthew Kolawole extolled the prevailing cordial relationship between the executive and the arms of government.
He called for the sustainability of the feat which according him will give room for the needed accelerated development in the state.
