Follow Us on Google
From Layi Olanrewaju, Ilorin, Emmanuel Adeyemi Lokoja, Olanrewaju Lawal, Birnin Kebbi and Okey Sampson, Umuahia
Kwara State Governor, AbdulRahman AbdulRazaq, yesterday, laid the 2023 budget estimates before the parliament, restating the administration’s commitment to inclusive growth.
It is N189,436,248,054 estimate with a recurrent expenditure of 49.1 percent and capital component of 50.9 percent.
“This is a budget of economic expansion and sustainable development,” the governor said, adding that the fiscal document focuses on strengthening the current gains and built around the state’s Sustainable Development Plan 2021-2030, Medium Term Sector Strategy 2021-2023 and citizens’ need assessments.
He said the budget places emphases on continuous infrastructural development, completion of ongoing road projects, agribusinesses, irrigation and mechanisation, workers’ welfare, rural electrification, and improved water reticulation, among others. In the new year, the RAAMP road projects will begin full steam.
“So, it is the special agroprocessing zone that is supported by development agencies. In the new year, we will also implement the National Programme on Food Security (NPFS) and Adolescent Girls Initiative for Learning and Empowerment, among others.
“Its key assumptions are oil price of 70 US Dollars per barrel; daily oil production estimate of 1.69m barrel per day; exchange rate of N435 to one United States Dollar; GDP growth of 3.75 percent; and inflation rate of 17.16 percent. Funding windows include federal allocations, internally generated revenue (IGR), grants, and other capital receipts.”
In Kogi State, Governor Yahaya Bello presented a budget draft of N172,090, 787,292 to the Assembly with the objective of giving the state wide transformations
The budget which is slightly higher than that of 2022 consists of recurrent expenditure of N 101,299,1 29,341 (58.86%) and capital expenditure of N70,791,657,951 (41.14%.)
The governor said it is designed to to fire up the economy and keep it burning and at the same time meant to capture only realisable revenues, enhance internally generated revenue (IGR) and aggressively pursue repayment of debts.
“In addition, this budget proposal is expected to help us significantly reduce the cost of governance, enhance the ease of doing business, attract more foreign direct investments, block all leakages in our finances, prioritise completion of all on-going projects and even make room to undertake a few new ones which are too crucial to be left undone by this administration.
“Tagged Budget of transformation, it focuses on continued provision of physical infrastructure, human capital development, job creation, wealth creation and poverty eradication.”
This, he said, would be done through significant upscaling of expenditures in health, education, agriculture, water resources, environment, housing and support for women and youth empowerment programmes.
On his part, Kebbi State Governor, Abubakar Atiku Bagudu, presented N166.98 billion dubbed “Budget of enduring legacies” before the House of Assembly.
He said the appropriation bill is a path to a renewed and reinvigorated economy as the state begin new journey into post COVID-19.
“This 2023 Budget of Enduring Legacies is hinged on indices that are cautiously optimistic as we recognise that the Nigerian economy as whole is not completely out of the woods. Oil prices are benchmarked at $60.74 per barrel with an exchange rate of N411 to $1. Inflation is estimated to be at 16.63%.
Of the proposed revenues, statutory allocation coming from the federation account are estimated in the sum of N48,377,123,339 and IGR estimated at N10,186,764,165 .
“Of that figure, recurrent expenditure accounts for N60,465,905,016. The recurrent expenditure figures are broken down to Personnel Costs of N29,964,745,524, while overhead costs are N30,501,159,491.
“Capital expenditures are in the sum of 106,519,170,093. The 2023 budget is guided by the strategic objectives of the State Development Plan 2022-2027, which are improving governance towards focusing on institutions through accountability, rule of law, transparency and efficiency that delivers quality social service delivery to Kebbi State citizens,” he said.
In Umuahia, Governor Okezie Ikpeazu, presented a budget of over N157 billion to the Abia House of Assembly.
This is even as Ikpeazu has assented into Law the Bill which guarantees the right of female in the state to inherit and own property in their father’s family.
Presenting the budget tagged: ‘Economic and expansion and stability budget,’ Ikpeazu disclosed that the estimate represented an increase of 6.95% from the 2022 budget of N147 billion.
He explained that the budget is made up of N75 billion recurrent expenditure, representing 47.64% of the total budget, with a capital expenditure of N82 billion, which is 52.36%.
Ikpeazu stated that his administration has recorded huge achievements in the last seven years which including ensuring security of lives and properties, completion of the Osisioma Ngwa flyover, support emphasis on agriculture as a source of wealth creation and capital formation.
Others achievements according to the governor are; engaging ease of doing business platforms to support trade and investment, industry and SMEs, removing obstacles to investment and help operators in Abia business environment to find and exploit opportunities as well as development of long term plan for the state..
Noting that his administration would partially implement the budget as its tenure expires on May 29, 2023, Ikpeazu stated that the budget was intended to ensure completion and commissioning of the Automated Garment Factory and other clusters, remodeling of key markets in Aba like Ariaria International Market and New Market, among other projects.
