Kogi State governor, Alhaji Ibrahim Idris, on Monday, presented the 2011 appropriation bill of N85.5 billion to the state House of Assembly.
The budget proposal, tagged “Budget of Consolidation”, according to the governor, was N7billion or 8.9 per cent higher than the 2010 revised budget of N78.5billion.
The governor noted that the appropriation bill was tagged “budget of consolidation” so as to consolidate on the gains of previous years in various sectors of the economy and to provide better environment and create job opportunities for the people of the state.
According to the governor, out of the budgetted proposal, N36.91 billion would be spent on recurrent services, while N48.54billion was expected to be spent on capital programmes and projects.
Governor Idris further explained that N53.2billion was expected to be derived from the recurrent revenue sources, while N32.3billion was expected from capital receipts.From the recurrent revenue sources, the governor proposed that N5.6 billion, N28 billion, N7 billion, N9 billion and N3.6 billion expected to be derived from internal revenue sources, federation account, Value Added Tax, excess crude oil and refund from Federal Government of over deduction of external loans recovery respectively.