Benue State governor, Rev. Fr. Dr. Hyacinth Iormem Alia, has signed into law the state’s 2024 Budget.
Performing the ceremony at the Old Banquet Hall of the Benue State Government House on Friday, the governor described the occasion as a significant step towards the progress and prosperity of Benue State.
A statement by the Chief Press Secretary to the Governor, Sir Tersoo Kula, said the budget is christened “the budget for infrastructural development, job creation, and poverty alleviation,” The budget has an aggregated financing to the sum of 225.7 Billion Naira.
According to Governor Alia, out of the total aggregated financing sum, there is a recurrent expenditure of 110. 5 Billion, representing 48.9% of the total budget, while the Capital head stands at 115. 2 Billion naira, representing 51.1% of the total 2024 budget, adding further that the deficit financing of the budget stands at 34. 6 Billion naira only, representing 15.3% of the total 2024 budget.
Other parts of the statement read;
Governor Alia said the budget will serve as a roadmap that will chart the course for a future where Benue communities will thrive, with the economy flourishing and the citizens of the state enjoying an improved quality of life.
Citing examples of critical areas covered in the budget, Governor Alia said the administration is going to invest significantly in the construction and maintenance of roads, bridges, and other vital infrastructure, adding that job seekers and entrepreneurs will also smile.
“This budget is a beacon of hope for job seekers and aspiring entrepreneurs. We understand the importance of job creation in fostering a dynamic and resilient economy. By allocating resources to various sectors, we aim to stimulate economic activities that will, in turn, generate employment opportunities.
“Whether through public works projects, support for small and medium-sized enterprises, Agriculture, or investments in emerging industries, we are committed to creating a conducive environment for job growth. Poverty alleviation remains at the forefront of our agenda” he stated.
While appreciating the legislators for their tireless efforts at ensuring the Budget is passed into law, the governor called for the support of all Benue people, saying “Together, we can build a future that is characterized by prosperity, inclusivity, and shared success.”
The signing of the Budget comes a day after the Benue State House of Assembly passed the bill presented by the Governor a few weeks ago to the Assembly.
