By Ojotule Romanus
Kogi State Governor, Alhaji Ahmed Usman Ododo, has unveiled a draft budget of N820, 490, 585.443 for 2026 Fiscal Year.
The budget which was presented to the State Executive Council for consideration and subsequent approval, is scheduled for onward transmission to the State House of Assembly on the 30th November, 2025.
The Draft 2026 Budget is N215, 961, 592. 225, (about 35.7 percent) higher compared to the 2025 Budget which stood at N604, 528, 992, 718, covering both Recurrent and Capital Expenditures.
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Tagged, “Budget Of Shared Prosperity; Driving Sustainable Growth For All”, the 2026 budget focuses on five main points which includes, to boost the internally generated revenue of the state, Dept Recovery and Repayment, Inclusive and Conducive Business Environment, Public/Private Partnership (PPP), Revenue Optimisation, Projects Completion and Continuity.
The Kogi State Commissioner for Finance, Budget and Economic Planning, Hon. Asiwaju Asiru, disclosed this while briefing newsmen shortly after the State Executive Council meeting held at the Banquet Hall, Government House in Lokoja.
According to him, the draft 2026 budget presented to the Council reflects the outcome of the Town Hall stakeholders engagement and technical sessions with the Ministries, Departments and Agencies,(MDAs), both of which he said, he chaired.
The proposal, he pointed out, encapsulates key fiscal parameters that define the State Government’s revenue and expenditures strategies just as he explained that, “these strategic priorities are aimed at promoting economic residence, reduce fiscal burdens , and foster a more competitive and investment-friendly state economy.
The Finance Commissioner gave a breakdown of the 2025 Budget performance as follows; Expenditures – the revised approved revenue was N399, 324, 007, 696, out of which N245, 410, 455, 413. 43 was collected as at September 2025 representing 61 percent performance. The Capital Expenditures of the 2025 Revised Budget stood at N183, 080, 111.793 with N52, 845, 653, 932. 27 realised by September 2025, indicated 28 percent performance.
He deslosed that the the 2025 Revised Budget projected an Opening Balance of N22, 124, 873, 229, however, he pointed out that N68, 902, 197, 640 was discovered in the account of MDAs following the 2025 financial statement review, representing 311.4 percent performance.
He put the Recurrent Expenditures at N330, 021, 008, 250 as was approved, with N203, 042, 954, 075. 92 spent as of September 2020, representing 61.5 performance while Capital Expenditures of N274, 507, 984, 468 was also approved, with N103, 772, 328, 548.08 expended by September 2025, representing 37.8 percent performance.
Hon. Asiru further explained the fiscal outlook of the proposed 2026 Budget reflects a more robust and balanced financial strategy emphasing enhanced revenue generation, strategic expenditure control, and a strong commitment to capital investments just as he said the significant increase in both Recurrent revenue and capital expenditures underscores the government’s determination to expand infrastructure and improve service delivery.
The 2026 Budget he said, also gives pririoty attention to Social and Economic Intervention as part of the efforts to cushion the impact of the fuel subsidy removal and improve citizens welfare and as such, the State Government has embedded the following innovations within the 2026 Budget framework: Social protection, Rural infrastructure, Agricultural development, SME supplus, Atternativ energy and Development partners.
He gave the breakdown of the 2026 Budget as follows: the total estimated Recurrent Revenue for 2026 is N470, 008, 482, 693 comprising the following sources; Internally Generated Revenue (IGR)-N43, 972, 495, 493, Statutory Allocation -N70, 000,000, 000, Withheld Escrow( 13 percent derivation)-N6, 000.000.000, Value Added Tax( VAT) – N90.000.000.000, Excess Non-oil Revenue -N4,000.000.000, Ecological Funds – N2,000.000.000, and Electronic Transfer Levy( EMTL) -6,000.000.000
Others are Forex Equalisation Mineral- N3,000.000.000, Solid Mineral Revenue -N1.500.000.000, NLNG Dividends – N160, 348, 990.961, State Infrastructure and Security -N39, 186, 996, 239, Signature Bonus N20.000.000.00 and other FAAC Distribution -N14,000.000.000.
He deslosed that the estimated Recurrent Expenditures for 2026 stands at N360.669.681.484., broken down as follows; Personal costs N116, 243, 175, 406 and overhead cost is N196, 915, 660, 476 while other Recurrent Expenses stands at N31, 510, 845, 602 and Public Debt Charges at N16.000.000.000.
The Capital Receipts are estimated at N350, 482,102, 750, Comprising internal and external loans, AIDS, and grants just as he explained further that, ” adding the Transfer Surplus brings total available funds for capital projects to N459, 820, 903.959.
Accordingly, the total estimated Capital Expenditures stands at N459.820. 903, ,959 and the 2026 Draft Budget is balanced with total estimated Revenue and Expenditures of N820, 490, 585, 443.
