28th December 2023 – The Benue State House Assembly today passed the 2024 budget presented by the executive Governor of Benue State, His Excellency, Rev. Fr. Hyacinth Alia, Ph.D.
The budget, named the “Budget of Infrastructure Development, Job Creation, and Poverty Alleviation,” proposes estimates to prioritize programs and projects aimed at propelling the state towards becoming an economically self-reliant federating unit of Nigeria, in line with the goals set in the Benue State development plan.
The proposed estimates for the 2024 budget, which included Financing, Recurrent, and Capital Expenditure Bills, received its second reading on Tuesday 12th December 2023 during a House sitting. It was then referred to the Appropriation Committee for scrutiny and further deliberations. To adhere to standard legislative practices, the other House committees were absorbed as sub-committees under the House Committee on Appropriation.
After rigorous budgeting processes, the total budget was determined to be ₦225,727,395,206.97 (Two hundred and twenty-five billion, seven hundred and twenty-seven million, three hundred and ninety-five thousand, two hundred and six naira, ninety kobo only). The deficit financing for the budget was set at ₦30,798,000,000.00 (thirty billion, seven hundred and ninety-eight million naira only).
The breakdown of the budget revealed that recurrent expenditures would amount to ₦110,487,033,965.99 (one hundred and ten billion, four hundred and eighty-seven million, thirty-three thousand, nine hundred and sixty-five naira, ninety-nine kobo), while capital expenditures were allocated ₦115,240,361,240.99 (one hundred and fifteen billion, two hundred and forty million, three hundred and sixty-one thousand, two hundred and forty naira, ninety-nine kobo).
During the consideration of the budget before its final passage, the House resolved to caution public sector entities in the state against engaging in extra-budgetary spending, as it is a breach of the Constitution. The House also considered taking decisive action against public sector entities that violate these constitutional provisions.
The honorable speaker of the Benue State House of Assembly, Chief Aondona Dajoh, presided over the House during this significant budget passage.
