Governor Yahaya Bello on Monday presented a budget estimate of N146.736 billion for 2019 to Kogi House of Assembly for scrutiny and approval.
Bello said the budget was made up of N71.841 billion for Recurrent Expenditure, which represented 48.96 per cent while Capital Expenditure would gulp N74.894 billion, which represented 51.04 per cent.
The governor said the bill tagged, “Budget of Consolidation”, was N4.941 billion or 3.26 per cent lower than the N151.677 billion for 2018.
Bello said that the budget would help to consolidate on the administration’s achievements in the last three years, especially in the completion and commissioning of key infrastructure projects and others.
“Above all, it will assist in complying with the principles stated in the Medium Term Expenditure Framework (MTEF) as well as the Fiscal Strategy Paper (FSP) approved by this Honourable House,” he said.
The governor said the 2018 budget recorded 51.63 per cent performance.
Speaker of the House, Prince Matthew Kolawole, reiterated that budget was an important policy tool for both the legislature and executive to drive development.
Kolawole pledged the continued support of the House to the executive and assured that the bill would be passed soon. (NAN)