Governor Samuel Ortom signed N179.7 billion budget for 2023 fiscal year into law

The budget for the 2023 fiscal year, totaling N179.7 billion, was signed into law by Benue State Governor Samuel Ortom on Thursday.

Earlier on November 9, Ortom had given the document to the State’s House of Assembly, which later approved the budget he highlighted at a brief ceremony held at Government House in Makurdi.

The governor praised the legislators for working quickly to adopt the budget and enable him to emphasize that the bill is now a law.

According to our correspondent, N106.1 billion of the N179.7 billion total budget for the 2023 fiscal year will be spent on recurring expenses, while N48.5 billion will go toward personnel costs, N57.6 billion toward overhead costs, and N74.5 billion will be spent on capital expenses.

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.


Written by Newsway

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