IDRIS PRESENTS N85.5B 2011 BUDGET TO KOGI HOUSE
GOVERNOR Ibrahim Idris of Kogi State has presented N85.5 billion as 2011 proposed budget to the state's House of Assembly for its approval, the last in the life of the current government.
According to the governor, the budget, which was tagged: 'Budget of consolidation,' is aimed at consolidating the achievement of the PDP-led government of the previous years. It is N7 billion or 8.9 per cent higher than the 2010 revised budget of N78.5 billion.
He stated that out of the total amount budgeted for the 2011 fiscal year, N36.91 billion will be spent on recurrent services, while N48.54 billion will be expended on capital programmes and projects.
The governor added that out of the total revenue of N85.5 billion projected for the 2011 fiscal year, N53.2 billion will be derived from recurrent sources, while N32.3 billion is expected from capital receipts.
Under the estimated income of N53.2 billion from the recurrent revenue sources, N5.6 billion will come from internal revenue source, the sum of N28 billion from federation account, N7 billion from Value Added Tax (VAT), N 9 billion will come from excess crude fund, while N3.6 billion will come from refund from Federal Government over-deduction of external loans recovery.
The sectoral breakdown of the budget indicated that road development had the highest allocation of N18.8 billion, followed by Government House administration, with N8.2 billion; education, N5.1billion; health, N3.4 billion; agriculture, N2.3 billion; information and sports development, N1.9 billion; commerce, finance industry and tourism, N1.3 billion; water supply, N3.1billion; housing project, N780 million; and energy sector, N615 million.
The governor said that from the breakdown of the recurrent revenue, it clearly indicated that the state government would continue to rely heavily on the revenue from the Federation Account in order to perform its statutory functions in the 2011 financial year.
However, Idris pointed out that in order to reduce the over dependence on the Federation Account, the state government would explore other revenue sources internally, stressing that government would henceforth ensure effective collection of all revenue accruable to the state government and its immediate remittance of the revenue to government coffers.
'Towards this end, all revenue generated by ministries, departments, parastatals and agencies should henceforth be promptly remitted to government coffers without further delay.
Also, the state government will provide a conducive environment and adequate facilities to all revenue generating organs of government to enhance their performance,' the governor declared.
The governor then commended the members of the House of Assembly for their support and co-operation towards his administration since he came to power in 2003, assuring them that his government would continue to extend his hands of fellowship to the house in the years ahead.
In his remark, the Speaker of the House of Assembly, Hon. Clarence Olafemi assure the governor that the House will give speedy hearing to the proposed budget, adding that the budget, expected to be the last in the life of the current legislature, is well packaged to solve the various problems facing the state.