Kogi State Governor, Alhaji Ahmed Usman Ododo, has offered a draft price range of N820.49 billion for the 2026 fiscal yr, representing a 35.7 per cent enhance from the 2025 revised appropriation.
The disclosure was made on Thursday by the State Commissioner for Finance, Asiwaju Idris, after the State Govt Council assembly held in Lokoja.
Idris stated the draft price range had been accepted by the governor for presentation to the Kogi State Home of Meeting for legislative consideration.
In line with him, the numerous enhance within the 2026 price range demonstrates the administration’s renewed dedication to inclusive and sustainable growth, anchored on environment friendly useful resource mobilisation and clear governance.
“This N820.49 billion draft price range represents a 35.7 per cent enhance from the 2025 revised price range, signaling a brand new period of sustainable development and inclusive growth within the state.
“The price range focuses on 5 key areas; boosting inner income, strengthening debt restoration, fostering a business-friendly atmosphere, deepening public-private partnerships, and making certain mission completion.
“The 2026 price range proposals replicate a strong and balanced monetary technique emphasising enhanced income era, strategic expenditure management, and a robust dedication to capital funding,” Idris stated.
The Commissioner pledged efficient monitoring of income inflows and strict fiscal self-discipline, which he stated have been important to attaining the specified outcomes.
Talking additional, the Commissioner for Data and Communications, Kingsley Fanwo, highlighted that the Ododo administration has made appreciable progress in combating insecurity throughout the state.
He disclosed that the governor has directed all native authorities councils to take over land consent authority — a transfer designed to curb fraudulent land transactions, unlawful mining, and insecurity.
What you must know
In July, Nairametrics reported that credit standing company Fitch Rankings had affirmed the Lengthy-Time period (LT) Issuer Default Rankings (IDRs) of Kogi state at ‘B’ with a Steady Outlook, citing the state’s continued dependence on income transfers from the federal authorities.
In line with the company’s newest assessments revealed on its web site, the affirmation displays expectations that the state will preserve fiscal stability regardless of exterior pressures however stay uncovered to dangers stemming from unstable oil revenues.
Fitch acknowledged, “The affirmation displays our expectation that Kogi’s fiscal efficiency will keep balanced, even underneath a pressured situation of declining oil-related income, because of excessive allocations from the federal authorities, deleveraging in 2024, and manageable exterior debt. The LT IDR is derived from the state’s Standalone Credit score Profile (SCP), and no different issue applies to the ranking.”
The credit standing company stated it primarily based the state’s ranking on its unstable working steadiness that’s delicate to adjustments in oil costs and rising adjusted debt to fund growing capex.
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