The Kogi State Governor, Ahmed Usman Ododo has said that the key goals of the 2025 budget for the state are to boost internally generated revenue (IGR), pursue debt repayment, foster conducive business environment, encourage public private partnerships, block wastages and leakages in revenue streams and prioritize completion of ongoing projects and programmes while introducing new critical projects.
Presenting the state’s 2025 budget of a little over N584 billion before the State House of Assembly, Governor Ododo said that the objective of the budget is to improve quality of education at all levels, improve access to healthcare, ensure food security, expand trade and commerce, create opportunities for youth development, improve road networks in urban and rural areas, improve the quantity, quality and access to safe water among others.
Breakdown of the total budget of N584,404,119,489.00 shows that the sum of N302, 813, 903,802, representing 51.99 percent is for capital expenditure while N279, 590,215,687, representing 48.01 percent is for recurrent expenditure.
The budget, christened “budget of consolidation and continuity for inclusive development” is N176, 82,989,476 higher than the 2024 revised budget, representing a 43.34 percent.
The allocation to sectors indicates that the sum of N120, 047, 367,416 which is 20.61 percent is allocated to administration; N227, 820,142,196, representing 39.12 percent for economic matters; N23,754,514,351, representing 4.08 percent for law and Justice, and N210,782,095,526, representing 36.19 percent for social services.
Governor Ododo said that the budget is anchored on the state’s fiscal strategy and its Public Financial Management Reform, saying that it is aimed at improving efficiency and effectiveness of spending, greater control of the state wage bill, boosting revenue generation by identifying and blocking leakages, and directing capital expenditure to critical infrastructure such as road, housing, education, health, and other thematic areas of job creation, youth engagement, infrastructure, and utilities, public sector and pension reforms.
The Governor gave indication of plans by the State Executive Council to soon present a bill for legislation on the 32-year development plan for the state, from 2024 to 2056.
According to the Governor, providing legislative backing for the 32-year development plan of the State government is to ensure continuity and consolidation of on-going development in infrastructure and human capital development, enhancement of the quality of lives and livelihood of people in urban and rural areas, support for new initiatives in solid minerals development, law, justice and public service reforms, among others which he said have to be sustained to prevent project abandonment and deviation from the strategic vision to position the state as an investment destination.
“As part of our efforts to build a new and prosperous Kogi State, we have developed a 32-year state development plan with the theme ‘Shared Hope and Prosperity’.
“The document is a comprehensive roadmap designed to transform Kogi State into a thriving, inclusive and sustainable economy.”
Governor Ododo said that the state development plan is anchored on three pillars of fostering prosperity, building resilience and providing direction for sustainable development through exceptional innovation, wealth creation, healthcare and human capital development established on the foundation of peace and exemplary governance.
He said the state development plan which is now operational is in three phases beginning with its first phase from 2024 to 2033 to lay the foundation for growth with investment in critical infrastructure, human capital development and economic diversification, adding that the phases two and three from 2034 to 2043 and 2043 to 2056 will focus on accelerating economic growth, improving governance and enhancing environmental sustainability; and consolidating on the gains of the earlier phases promoting innovation and ensuring the state remains competitive and attractive for investment.
