Yahaya Bello presents N176bn 2020 budget to assembly

Governor Yahaya bello

Governor Yahaya Bello of Kogi state

Governor Yahaya Bello of Kogi State

By Richard Elesho

Kogi State Governor, Alh. Yahaya Bello, on Wednesday presented N176billion 2020 budget proposal to the State House of Assembly.

The governor who was represented by his Deputy, Edward Onoja, while laying the budget tagged Budget of Prosperity at the Kogi State House of Assembly said it will transform the state in all spheres of development.

According to the governor, the appropriation bill which is to the tune of N176,123,091.931 consists of N97,153,963,194 as capital expenditure and N92.933 billion as recurrent expenditure.”

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The governor explained that N17.5 revenue is expected from value added Tax while N120 billion is expected from the Excess crude.

He said that N100 billion is expected from exchange rate difference as refund from federal government while N2 billion is expected from non-oil revenue just as N1.5 billion is being expected from from forex equalisation and N120 billion expected from excess bank charges.

He further told the the lawmakers that recurrent revenue for the year 2020 stands at N92.932 out of which estimated personnel cost for the period will be 32.512 billion, whereas N46.55billion is expected to be overhead cost thereby giving N78.96 billion as a recurrent expenditure for the year 2020.

The 2020 budget is the last Bello will be presenting in his first tenure. He has won reelection and his second term begins on 27th January 2020.

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