Ebonyi budgets N127billion for 2017

Nov 30 2016 - 9:12pm
Ebonyi State Governor, David Umahi

Ebonyi State Governor, David Umahi presents budget of growth

 

The News Agency of Nigeria, NAN reports that Gov. David Umahi of Ebonyi State has presented a budget estimate of N127 billion to the state’s House of Assembly for the 2017 fiscal year.

The bill, tagged “Budget of Inclusive Growth and Poverty Reduction in Economic Recession”, allocated N87,061 million for capital expenditure, representing 68.43 per cent
of the budget.

The budget also allocated N40.171 billion for recurrent expenditure, representing 31.57 per
cent of the total estimate.

The total estimate, which is the highest in the state’s history, is more than the 2016 estimate of N101.1 billion.

According to NAN,  the economic sector got the largest chunk of the budget with N57,078 million, which the governor attributed to his resolve in tackling challenges in roads, water, electricity, agriculture, education, commerce and industrial sectors.

The social sector was allocated N14.039 million with the administration sector having allocation of N9.9 million.

The governor said that the government would borrow N40 billion to execute the budget
to accelerate rapid growth and development in the state.

“This would enable the state government to complete various projects, especially road construction, commercial agricultural ventures and other infrastructure.

“The officers responsible for our Internally Generated Revenue should re-double their efforts as we are seriously relying on the area to finance the budget,” he said.

He commended the House for speedily accenting to the bills sent by the executive arm of government, noting that it demonstrated commitment and collaboration in developing the state.

“I want to also congratulate you for the quality of renovation works being carried out at the assembly complex as you have keyed into our policy of giving the best in the service of the state.”

Mr Francis Nwifuru, the Speaker of the House, said the legislature was satisfied with fiscal prudence of the executive arm during the 2016 fiscal year.

“The executive arm has performed creditably in all sectors, considering the prevailing economic challenges in the country where most states are still finding it difficult to pay salaries.

“The House is at the fore-front of scrutinizing the expenditures of the executive arm and is ready to complete all constitutional duties, including oversight functions, public hearings, among other legislative duties,” he said.

He urged the governor to increase the level of funding to the House, noting that it would help in performing its functions for the people’s benefit.

Members took turns to comment on the bill and identified the various strides of the governor in the areas of infrastructure provision, agriculture, health, among other sectors.

The House later went into plenary, where the bill passed second reading.

(NAN)

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