Gov. Bello presents 2020 Appropriation Bill of N176.9 billion to Kogi Assembly

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Gov. Bello presents 2020 Appropriation Bill of N176.9 billion to
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Governor Yahaya Bello of Kogi State on Wednesday presented an Appropriation Bill of N176.123 billion to the state House of Assembly for approval.
Mr Bello, represented by his deputy, Edward Onoja said the budget was based on conservative projections.
The governor said the budget represented an increase of N17.951 billion or 10.19 per cent over the 2019 figure of N158.172billion.
He said the budget was made up of N78.969billion recurrent expenditure representing 44.84 per cent and N97.153 billion capital expenditure representing 55 per cent.
He said the budget had recurrent revenue of N92.932billion consisting of N21.032 billion Internally Generated Revenue (IGR) and N50.428billion Federation Account allocation.
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The governor added that N17.5 billion was expected from Value Added Tax (VAT), N120 million from excess crude account and N100 million from exchange rate differential and N130.8 billion as refund from Federal Government.
The economic sector with N61.907 billion representing 35.1 per cent got the highest sectoral allocation, while administration got the second largest allocation with N57.234 billion representing 32.5 per cent.
Others were social sector with N49.3 billion, representing 28 per cent; law and justice with N7.6 billion representing 4.3 per cent.
(NAN)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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