Governor Yahaya Bello of Kogi State has signed the state’s 2018 Appropriation Bill of N151,677,854,494 into law after it was passed by the state House of Assembly on Tuesday.
The amount represents an increase of about three billion naira over the N147,827,854,997 budget proposals presented to the Assembly by Governor Bello on December 21, 2017.
The budget breakdown reveals that personnel costs got N27,237,599,449; overhead costs, N36,741,761,784 and capital expenditure, N87,698,493,261.
Therefore, for the second year running, the state is dedicating more than half of its budget to infrastructure as capital expenditure stands at 57.82 percent of the total budget.
The signed budget represents a reduction of over N23 billion from the 2017 budget.
Speaking at the budget signing, Governor Bello commended the legislators for cutting short their break to ensure timely consideration and passage of the Appropriation Bill.
He also assured all of the full implementation of the budget, stressing that despite being a political year, he will not be distracted in his determination to make life better for all Kogites.
“I shall not play politics with the fortune and destiny of the state,” he said, stressing that he will do everything to actualise his promises to the people as captured in the budget.
This year’s budget, tagged Budget of Sustainable Growth, is specifically designed to address the infrastructure challenges of the state.
Earlier, Speaker of the House, Mr. Matthew Kolawole, explained that the House increased the fund for the accreditation of courses at Kogi State University, Anyigba, from N100,000,000 to N500,000,000.