Kogi budgets N820.49bn for 2026 fiscal year

Kogi State Governor, Usman Ahmed Ododo, on Tuesday presented a draft budget of N820,490,585,443 for the 2026 fiscal year to the State House of Assembly for consideration.

The 2026 Appropriation Bill, tagged “Budget of Shared Prosperity: Driving Sustainable Growth for All,” represents an increase of N216,961,592,725 (25.7%) compared to the revised 2025 budget.

According to the governor, the proposed budget includes an estimated recurrent revenue of N470,008,482,693 and recurrent expenditure of N367,448,083,683.

He explained that the budget will be financed through Internally Generated Revenue (IGR), statutory allocation, withheld escrow (13% derivation), Value Added Tax (VAT), exchange gains, excess non-oil revenue, among other sources.

Governor Ododo said the 2026 fiscal plan reflects a robust and balanced financial strategy focused on enhanced revenue generation, prudent expenditure control and a strong commitment to capital investment. He added that the rise in both recurrent and capital spending underscores government’s determination to expand infrastructure and improve service delivery.

The draft budget aims to enhance revenue mobilisation, enforce expenditure discipline, deepen strategic investments in growth sectors, accelerate repayment of federal government debts, strengthen the investment climate, block revenue leakages and prioritise ongoing projects while initiating new ones aligned with the state’s 32-year development plan.

The governor noted that the budget is designed to support economic growth, ease financial pressures and create a more competitive business environment. He added that several policy thrusts have been introduced to stimulate economic expansion, generate jobs and improve living standards across the state, especially to cushion the effects of fuel subsidy removal.

In his remarks, Speaker of the Kogi State House of Assembly, Rt. Hon. Umar Yusuf Aliyu, reaffirmed the lawmakers’ commitment to due diligence, cooperation and responsible oversight in carrying out their constitutional duties.

“With transparency, accountability and integrity as our guiding principles, we are determined to scrutinize, evaluate and improve the proposals before us so they deliver lasting impact and prosperity for our citizens,” he said.

He assured the governor of the Assembly’s readiness to give the budget accelerated but thorough consideration in line with global best legislative practices.

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