A total of two hundred and twenty five billion, seven hundred and twenty seven million, three hundred and ninety five thousand, two hundred and sixty naira, ninety seven Kobo (225, 727, 395, 206.97) only has been estimated for the 2024 fiscal year.
Presenting the 2024 budget estimate on the floor of the Benue State House of Assembly tagged. “Budget of infrastructure, development, job creation and poverty alleviation”, the State Governor, Rev Fr Hyacinth Alia told lawmakers that the budget was aimed at fixing the broken Benue.
Governor Alia explained that out of the total revenue, recurrent revenue would gulp one hundred and forty three billion, eight hundred and forty million, five hundred and ninety one thousand eight hundred and ninety two naira thirty eight Kobo (N143,840, 591, 892, 38) only.
The state government share from the federal government according to Governor Alia is expected to be one hundred and twenty billion, (N120, 000, 000, 000 ) while the Internally Generated Revenue, IGR, is projected at twenty eight billion, eight hundred and forty million, five hundred and ninety one thousand, eight hundred and ninety two naira thirty eight naira (N23, 840, 591, 892, 38 ) only.
According to the governor, aids and grants from donors have 77.4 percent increase from the last year’s projection and revealed that the state expects thirty six billion, nine hundred and ninety two million, nine hundred and thirty two thousand, seven hundred and sixteen naira forty three kobo (N36, 992, 932, 716.43) only.
The governor informed that the capital development fund has a slight increase over the 2023 projection of 16.7 percent as the 2024 projection stands at forty four billion, eight hundred and ninety three million, eight hundred and seventy thousand, five hundred and ninety eight naira, sixteen Kobo (N44, 893, 870, 598.16) only.
Of the total projection, Governor Alia maintained that the recurrent expenditure would stand at one hundred and ten billion, five hundred and eleven million, two hundred and thirty three thousand, nine hundred and sixty five naira, ninety nine Kobo (N110, 511, 233.965.99) only. Personnel cost would be fifty six billion, four hundred and seventy nine million, seven hundred and ninety nine thousand, five hundred and ninety naira, fourteen Kobo (56, 479, 799, 590.14.) only.
He disclosed that non personnel cost or overhead is expected to gulp fifty four billion, thirty one million, four hundred and thirty four thousand, three hundred and seventy five naira eighty four Kobo (N54, 031, 434, 375, 84.) only. He added that the capital expenditure is expected to gulp one hundred and fifteen billion, two hundred and sixteen million, one hundred and sixty one thousand, two hundred and forty naira ninety nine Kobo (N115, 216, 161, 240. 99).
The governor lamented that 2023 recorded poor performance and was highly ridiculous in some sectors. And assured that the 2024 budget would provide infrastructure, create jobs and alleviate poverty.
Responding, Speaker of the House, Mr. Aondona Dajoh commended the governor for the prompt payment of salaries and pensions, road construction, provision of buses for Benue people and assured that the House would give the appropriation bill accelerated hearing for the betterment of Benue people.
