Ododo Presents N820.49bn ‘Shared Prosperity’ Budget, Prioritises Infrastructure, Human Capital
Kogi State Governor, Ahmed Usman Ododo, has presented a proposed ₦820.49 billion budget for the 2026 fiscal year to the State House of Assembly, describing it as a strategic plan to accelerate development and expand economic opportunities across the state.
Presenting the “Budget of Shared Prosperity” before lawmakers at the Assembly complex in Lokoja, the Governor said the financial proposal is designed to strengthen infrastructure, deepen human capital development, boost production capacity, and promote enterprise growth.
A breakdown of the appropriation bill shows ₦367.4 billion (45%) allocated to recurrent expenditure and ₦453.04 billion (55%) earmarked for capital projects, reflecting the administration’s focus on infrastructure, agriculture, education, healthcare, and broader economic expansion.
Ododo explained that the capital expenditure will be financed through a transfer surplus of ₦102.56 billion and capital receipts amounting to ₦350.48 billion from internal and external loans, aids, and grants.
Seeking swift legislative approval, the Governor expressed confidence that the 2026 budget would consolidate ongoing reforms and advance the state’s long-term development plan.
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“Our vision is clear: to create an economy that works for every citizen—one that rewards productivity, encourages innovation, and uplifts the vulnerable,” he said.
He added that the administration will intensify efforts in revenue mobilization, recovery of outstanding federal debts, blocking leakages, and strengthening Internally Generated Revenue mechanisms.
Providing an update on Kogi’s 2025 economic performance, Ododo reported a 3.8% GDP growth, driven by agriculture, solid minerals, trade, and construction. He noted that state inflation averaged 20.4%, slightly below the national rate due to targeted interventions.
“The unemployment rate improved from 18.6% in 2024 to 16.2% in 2025, while poverty declined from 35% to 32%, with significant gains in rural communities,” he disclosed, attributing the progress to investments in youth empowerment, MSME support, and infrastructure development.
Earlier, Speaker of the Assembly, Rt. Hon. Umar Yusuf Aliyu, commended the Governor for achievements in infrastructure, public financial management, human capital development, and security, reaffirming the 8th Assembly’s commitment to a transparent, people-focused budget review process.
He also lauded the executive for granting full legislative autonomy to the State House of Assembly.
The Assembly is expected to begin detailed budget oversight sessions with Ministries, Departments, and Agencies in the coming days.
By PRNigeria
