
Tuesday, March 24, 2020
KOGI STATE GOVERNMENT; REVIEW OF YEAR 2020 BUDGET OF PROSPERITY
KOGI STATE GOVERNMENT; REVIEW OF YEAR 2020
BUDGET OF PROSPERITY
As a government of new direction whose readiness and determination to do more for kogites in the most truest and transparent manner, finds it absolutely imperative to review the 2020 Budget in the face of drastic drop in the global oil price and increase in exchange rate as against the benchmarks used to prepare the budget.
It's not news anymore that as a nation we operate majorly a petro-dollar economy ,which invariably means, our economic tide will always flow in the direction of global oil price. Without micing words,the federating units will be worst hit considering the partial compliant kind of federal system of Government we practice as a nation.
Therefore, In the wake of the reality on ground,where oil sells below $30per barrel, production below 2.18mbpd and exchange rate above N360/$,then, it appropriately suggest that the benchmarks that formed the basis of the year 2020 budget is no longer viable, further more, it marginally contradict the present Economic indices.
Kogi state, known for her proactiveness and resolve never to play politics with issues of governance, has taken a frantic step with the approval of the Governor, Alhaji Yahaya Adoza Bello through the office of the honourable commissioner of finance, Budget and Economic planning, Mukadam Asiwaju Asiru Idris with other top government officials to address the fiscal pressures arising from the recent drop in oil prices.
Members of the committee are:
1) *Asiwaju Asiru Idris* - Commissioner of Finance, Budget and Economic planning
2) *Alhaji Momoh Jibrin*- State Accountant General
3) *Yakubu Y. Okala*- State Auditor General
4) *Aliyu Nda Salami*- Chairman, KGIRS
5) *Usman Ahmed Ododo*- Auditor General Local Government
The compelling Challenges that comes with a mono economy,as presently witnessed, is the reason why the New direction government as led by the visionary Governor is strategically working out a viable diversification plan in sectors where we have comparative advantages like Agriculture, Mineral Resources and Tourism development. The recently approved AfDB $100,000,000 loan to establish alape crop processing zone, further demonstrates the relentless quest and commitment of the state government to surmount effect of global oil drop cum meagre FAAC allocation by diversifying the economy of the state.
Going forward, these step became pertinent in the bid to provide good governance to kogites and to also demonstrate transparency and inclusivity in the process to the next level we promised as an administration. We are doing much more to serve you better.

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