By Friday Idachaba, Lokoja
KOGI State House of Assembly has passed an Appropriation Bill of N258.2 billion as draft budget for the 2024 fiscal year after due legislation, consideration and approval.
Nigerian Pilot reports that Passage of the Bill was sequel to adoption of the report of the House Standing Committee on Appropriation, Budget Monitoring and Economic Planning at plenary on Wednesday in Lokoja.
Recall that the State Governor, Alhaji Yahaya Bello on Dec. 11, presented the Appropriation Bill of N258.2 billion as the state’s budget estimates for 2024 fiscal year.
The Governor had said that the 2024 Budget tagged “Budget of Consolidation and Continuity for Inclusive Growth” has Recurrent Expenditure of N145.73 billion, about 56.43 per cent and a Capital Expenditure of N112.54bn which is 43.57 per cent of the total budget of N258.2 billion.
He said that the total estimated revenue (i.e recurrent revenue and capital receipts) stands at N258.2 billion for the year 2024.
Bello added that with Total Estimated Revenue at N258.2 billion and Total Recurrent Expenditure at N258.2 billion, the draft Budget was a balanced one saying that it was geared towards consolidating on the gains of 2023 fiscal year.
Upon presentation and adoption of the report, the House dissolved into Committee of the Whole where the Bill was subjected to clause by clause consideration and read for the third and final stage before its approval and passage.
The House Speaker, Rt Hon. Aliyu Umar Yusuf, passing the bill, said the Appropriation Bill had in it, authorised N145.73 billion as recurrent expenditure and an authorised Capital Expenditure of N112.54 billion.
“The budget, which has shown the various allocation of funds to Ministries, Departments and Agencies (MDAs) will take effect from Jan. 1, 2024.
“As speaker of the house, I wish to commend you, my dedicated and hardworking colleagues for job well done at scrutinising our governor’s appropriation bill and passing it into law today, Dec. 20, ” he said.
