All NewsNewsPolitics

40% of Kogi’s 2022 budget going to Yahaya Bello alone, Dino Melaye cries out

A former Senator representing Kogi West Senatorial District during the 8th Nigerian National Assembly Senator Dino Melaye has said that about 40% of the 2022 budget of Kogi State that was recesently presented to the Kogi State House of Assembly is going to the governor of Kogi state, Mr Yahaya Bello.

Dino Melaye in a video he posted online on Wednesday lamented that in the budget the government house has N36.5billon as budget and N20 billion was budgeted for the government office which means that the governor has budgeted for himself the sum of 56.5 billion.

He went on to say that the N56.5 billion the governor has budgeted for himself is more than the total cost or budget for capital projects in the state for 2022.

Student stabs mate to death

He also said that the total budget for capital projects in Kogi 2022 budget is N50 billion

Speaking during the budget presentation in October the governor said that the summary of the draft 2022 Revenue and Expenditure Estimates is as follows:
The proposed 2022 Budget has an estimated outlay of N145,896,072,913. This total budget outlay of N145,896,072,913 is divided into Recurrent Expenditure of N90,151,291,251 representing 61.79% and Capital Expenditure of N55,744,781,662 representing 38.21%. This is represented in the table below:
Expenditure Item Allocation %
Recurrent Expenditure N90,151,291,251 61.79%
Capital Expenditure N55,744,781,662 38.21%
Total N145,896,072,913 100%
Also the total Budget expenditure outlay is given in the following sectors:
Code Sectors Allocation %
01 Administration N50,233,230,518 34.43
02 Economic N41,926,235,949 28.74
03 Law and Justice N4,720,893,239 3.24
05 Social N49,015,713,207 33.60
Total N145,896,072,913 100.00
The total Budget package for year 2022 is N145,896,072,913 as against N160,560,230,602 Revised Budget for year 2021. This represents a decrease of N14,664,157,689 or 9.13% when compared with the 2021 Revised Budget.

He also said that the state had budgeted a total estimated recurrent revenue of N96,792,006,352 consisting of N23,266,375,259 from internal sources, N49,586,957,264 as State’s share from the Federation Account, N19,667,974,999 revenues from Value Added Tax (VAT), N100,000,000 from Excess crude, 1,000,000,000 from exchange difference, N500,000,000 as refund from Federal Government, N1,000,000,000 from Non-Oil Revenue, N200,000,000 from Forex Equalisation, N120,698,829 from Excess Bank charges, N350,000,000 from Budget Augmentation, N500,000,000 from Solid Minerals and N500,000,000 from Ecological Fund.

Recurrent Revenue for the year 2020 stands at N96,792,006,352. Out of the above figure, the estimated personnel cost for the period is N45,119,725,532 whereas N45,031,565,719 is Overhead Costs, thereby giving N90,151,291,251 as a total recurrent expenditure for the year 2022.

He further said that a total estimated Transfer Surplus of N6,640,715,100 as Capital Development Fund.

The estimated Capital Receipt is N49,104,066,562 comprising Capital receipts analysis by economic, Aids and Grants. However, if the Transfer Surplus of N6,640,715,100 is added to this amount, we shall have N55,744,781,662 as fund available for capital development projects.
Total estimated capital expenditure, therefore, stands at N55,744,781,662.

In summary, Kogi’s total estimated revenue (i.e. recurrent revenue and capital receipts) stands at N145,896,072,913 for the year 2022, making total estimated expenditure (i,e Recurrent and Capital) stands at N145,896,072,913 for the year 2022 making our 2022 Budget a balanced budget.

Show More

Related Articles

Leave a Reply

Back to top button