December 22, 2022
Governor Samuel Ortom of Benue State on Thursday signed into law the budget of N179.7 billion for the 2023 fiscal year.
Ortom had earlier on November 9 presented the draft to the State’s House of Assembly which passed the budget he accented to in a brief ceremony held at Government House in Makurdi.
The governor thanked the lawmakers for speedily working on the budget for a quick passage and enabling his accentuation to make the bill now a law.
Our correspondent reports that of the total budget of N179.7billion for the 2023 fiscal year, N106.1 billion would be expended on Recurrent expenditure while the Personnel cost stands at N48.5billion with Overhead cost at N57.6billion and Capital expenditure pegged at N74.5billon
Meanwhile, the Economic sector takes the highest share of N94.3 billion followed by the Social sector with the sum of N44.7 billion and the Administrative sector got N33.7 billion while the Law and Justice sector has the lowest share of N6.5 billion.