Gov Bello Presents N145bn 2022 Budget to House of Assembly, Tagged ‘Budget of Accelerated Results’ 

Kogi State Governor on Thursday presented 2022 budget proposal to the members of the state House of Assembly.

The budget which he tagged a “budget of accelerated recovery,” is in the sum of one hundred and forty-five billion, eight hundred and ninety six million, seventy-two thousand, nine hundred and thirteen naira (N145,896,072,913). 

“The budget represents a decrease of N14,664,157,689 or 9.13% when compared with the 2021 Revised Budget,” the Governor stated. 

He also disclosed a total estimated recurrent revenue of “N96,792,006,352 consisting of N23,266,375,259 from internal sources, N49,586,957,264 as State’s share from the Federation Account, N19,667,974,999 revenues from Value Added Tax (VAT), N100,000,000 from Excess crude, 1,000,000,000 from exchange difference, N500,000,000 as refund from Federal Government, N1,000,000,000 from Non-Oil Revenue, N200,000,000 from Forex Equalisation, N120,698,829 from Excess Bank charges, N350,000,000 from Budget Augmentation, N500,000,000 from Solid Minerals and N500,000,000 from Ecological Fund.

“Recurrent Revenue for the year 2020 stands at N96,792,006,352. Out of the above figure, the estimated personnel cost for the period is N45,119,725,532 whereas N45,031,565,719 is Overhead Costs, thereby giving N90,151,291,251 as a total recurrent expenditure for the year 2022.

“From the foregoing, we have a total estimated Transfer Surplus of N6,640,715,100 as Capital Development Fund.

“The estimated Capital Receipt is N49,104,066,562 comprising Capital receipts analysis by economic, Aids and Grants. However, if the Transfer Surplus of N6,640,715,100 is added to this amount, we shall have N55,744,781,662 as fund available for capital development projects.

Total estimated capital expenditure, therefore, stands at N55,744,781,662.

“In summary, our total estimated revenue (i.e. recurrent revenue and capital receipts) stands at N145,896,072,913 for the year 2022, making total estimated expenditure (i,e Recurrent and Capital) stands at N145,896,072,913 for the year 2022 making our 2022 Budget a balanced budget.

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