Economy

THE Kogi House of Assembly has finally approved N172 billion Budget for 2023 fiscal year.

The lawmakers passed the budget on Friday during their last plenary for the year 2022 at the Speaker’s Lodge, Lokoja.

Gov Yahaya Bello had on Nov 30, presented a draft budget of the exact sum (N172 bn) to the house for consideration and approval for the 2023 fiscal year

The passage of the budget followed the adoption of a report presented by the Chairman, House Committee on Finance, Appropriation, Budget, Monitoring and Economic Planning, Mr Aderonke Aro, at the plenary.

Aro explained that after considering the Bello’s appropriation bill, the committee okayed the sum of N101 billion to be appropriated from the consolidated Revenue Fund of Kogi for the Recurrent Expenditure.

“During the course of the defence by various Ministries, Departments and Agencies (MDAs), the committee varied the budget provisions from one code to another in line with the economic reality.

“Also as a committee, we have okayed the sum of N70.74 billion as Capital Expenditure for the 2023 fiscal year.

“It’s our belief that the recommendations of our committee will ensure the effective delivery of government services for the benefit of the people of Kogi.

“My esteemed Colleague, the Committee on Finance Appropriation, Budget Monitoring and Economic Planning, hereby recommends to this honourable house a ‘Balanced Budget’ of N172 billion for the 2023 fiscal year, ” Aro said.

The News Agency of Nigeria (NAN) reports that after the deliberations on the committee’s report, the Speaker of the House, Mr Mathew Kolawole, considered the report clause by clause before passing it.

Kolawale said, “this is the last budget passed by the 7th Assembly in Kogi.”

However, the Assembly adjourned its plenary to March 3, 2023, after passing the budget. (NAN)

KN

Tags: Aderonke Aro Gov Yahaya Bello Kogi House of Assembly