Ortom signs N179.7bn 2023 budget into law

Governor Samuel Ortom of Benue State on Thursday signed into law a 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 the government house in Makurdi. The […]

Governor Samuel Ortom of Benue State on Thursday signed into law a 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 the government house in Makurdi.

The governor thanked the lawmakers for speedily working on the budget for quick passage and enabling his accent to make the bill now a law.

Our correspondent reports that of the total budget of N179.7 billion for the 2023 fiscal year, N106.1 billion would be expended on recurrent expenditure while the personnel cost got N48.5 billion, overhead cost N57.6 billion and capital expenditure pegged at N74.5 billion.

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 N33.7 billion while the law and justice sector had the lowest share of N6.5 billion.