TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

Enugu reduces budgeted revenue to reflect dwindling federal allocation

The Citizen by The Citizen
June 10 2014
in Latest News, Uncategorized
A A
0
22
SHARES
734
VIEWS
Share on FacebookShare on Twitter

Decline in the Federation Account accounted for a 9.8 per cent decrease in the projected recurrent revenue of the Enugu State Government in 2014.
The Commissioner for Finance and Economic Development, Mr. Godson Nnadi, disclosed this while giving a breakdown of the state’s 2014 budget.
The state government budgeted a total sum of N93.2bn for the 2014 fiscal year, an 11 per cent increase from the N83.7bn budgeted for 2013.
However, while the total budgeted sum increased, the state’s projected recurrent revenue fell from N63.7bn in 2013 to N57.4bn in 2014.
Nnadi said the N6.2bn (9.8 per cent) shortfall “can be explained by the dwindling resources from the Federation Account.”
Figures made available to journalists showed that N48.3bn, or 84.0 per cent, of the projected N57.4bn recurrent revenue will come from the state’s share from the federation accounts, while only N9.1bn, or 16.0 per cent, will come from internally generated revenue.
Out of the total budgeted sum of N93.2bn for 2014, Enugu State Government set aside the sum of N39.3bn for recurrent expenditure.
The amount budgeted for recurrent expenditure in 2014 represented a N6.5bn decrease in the sum budgeted for the same item in 2013.
Nnadi further explained that the need to release more money for capital projects informed the reduction in recurrent expenditure through “the prudent management of the lean financial resources of the state.”
The sum of N53.9bn was budgeted for capital expenditure by the Enugu State Government in 2014, of which capital receipt is expected from sources including transfer from recurrent surplus (N18.1bn), value added tax (N9bn), internal/local loans (N5bn), external loans (draw down) (N11.4bn), grants (N7.7bn), and public private partnership (N1.1bn).
The N53.9bn capital receipts also included the sum of N600m which was left at the end of 2013 and carried forward to form the opening balance of the 2014 fiscal year.
A summary of the budget based on thematic areas showed that infrastructure and transport received the largest share of the capital expenditure with N17.8bn, while education, community and rural development, and health followed with N5.7bn, N5.05bn and N4.1bn, respectively.
Responding to questions after the presentation, the commissioner, who was reacting to concerns over the non-allocation of funds to Daily Star, the state-owned newspaper, urged journalists to buy the outfit.
Noting that the state government has decided to privatize Daily Star, he said, “We expect that NUJ veterans  will come up with a consortium to take over Daily Star.”

 

Share9Tweet6
Previous Post

PSC promotes rtd police commissioner to AIG, elevates others

Next Post

Abuja markets shut over Boko Haram’s bomb threat

Related Posts

Trump hits Japan, South Korea, others with new tariffs
Latest News

Trump hits Japan, South Korea, others with new tariffs

July 8 2025
ADC begins takeover of PDP structures in Northern states
Latest News

ADC raises alarm over Tinubu’s plot to destabilise coalition

July 8 2025
Benue massacre: Tinubu’s refusal to visit Yelwata inexcusable – Peter Obi
Latest News

IPOB praises Obi’s call for Kanu’s release

July 8 2025
Lagos, Benue, others at risk of flash floods in July
Headlines

Lagos, Benue, others at risk of flash floods in July

July 8 2025
Enugu Air begins operations
Business

Enugu Air begins operations

July 8 2025
Eight passengers escape death in auto crash on 3rd Mainland Bridge
Latest News

Eight passengers escape death in auto crash on 3rd Mainland Bridge

July 7 2025
Next Post

Abuja markets shut over Boko Haram’s bomb threat

Nigeria, Pakistan sign bilateral agreement, targets N160b trade in five years

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

Olubadan dies at 90

Olubadan dies at 90

by The Editor
July 8 2025
0

...

Lagos Assembly summons AG over delayed implementation of LG law

Lagos Assembly summons AG over delayed implementation of LG law

by The Editor
July 1 2025
0

...

Boston Museum returns looted artefacts to Oba of Benin

Boston Museum returns looted artefacts to Oba of Benin

by The Editor
June 29 2025
0

...

CAN advises Miyetti Allah to tame violent members

Imo villagers decry armed herdsmen presence in farmlands

by The Editor
June 13 2025
0

...

APPOINTMENTS

Gunmen abduct passengers in Ondo

Ondo Assembly confirms 15 commissioner-nominees

by The Editor
July 1 2025
0

...

Dalori takes over as APC acting chairman

Dalori takes over as APC acting chairman

by The Editor
June 28 2025
0

...

Sierra Leone President succeeds Tinubu as new ECOWAS Chairman

Sierra Leone President succeeds Tinubu as new ECOWAS Chairman

by The Editor
June 22 2025
0

...

Police Inspectors appeal to IGP over unpaid salary arrears

Police Inspectors lament delayed promotion, appeal to IGP, PSC

by The Editor
June 17 2025
0

...

ODDITIES

Three masqueraders land in prison for flogging Enugu residents

Three masqueraders land in prison for flogging Enugu residents

by The Editor
June 29 2025
0

Police Inspector loses life by accidental discharge from son

Police Inspector loses life by accidental discharge from son

by The Editor
June 17 2025
0

Truck runs into Christmas procession in Gombe

Gombe perm sec, four others die from electrocution

by The Editor
June 14 2025
0

GLOBAL NEWS

Flash floods claim 27 lives in Texas

Flash floods claim 27 lives in Texas

by The Editor
July 8 2025
0

...

US deports eight men to South Sudan after legal battle

US deports eight men to South Sudan after legal battle

by The Editor
July 6 2025
0

...

Ex-Equatorial Guinea anti-corruption chief with over 400 sextapes faces 18-year jail term

Ex-Equatorial Guinea anti-corruption chief with over 400 sextapes faces 18-year jail term

by The Editor
July 3 2025
0

...

Iran vows retaliation if Trump enacts threats

Iran orders suspension of cooperation with UN nuclear agency

by The Editor
July 2 2025
0

...

Three die in African Union helicopter crash

Three die in African Union helicopter crash

by The Editor
July 2 2025
0

...

State of the States

Bandits snatch Xmas foodstuffs, drinks from man on bike

Kaduna debunks curfew rumour in Kakuri community

by The Editor
July 1 2025
0

...

Kogi schools to reopen Sept 14

FG grants Kogi govt 15 mining licences to tap mineral resources

by The Editor
June 28 2025
0

...

Lagos govt denies involvement in demolition of Obi’s brother’s property

Lagos govt denies involvement in demolition of Obi’s brother’s property

by The Editor
June 26 2025
0

...

Islamic New Year: Jigawa declares Friday public holiday

Islamic New Year: Jigawa declares Friday public holiday

by The Editor
June 26 2025
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Trump hits Japan, South Korea, others with new tariffs

Trump hits Japan, South Korea, others with new tariffs

July 8 2025
Flash floods claim 27 lives in Texas

Flash floods claim 27 lives in Texas

July 8 2025
ADC begins takeover of PDP structures in Northern states

ADC raises alarm over Tinubu’s plot to destabilise coalition

July 8 2025
Nigeria, Netherlands reopen double taxation agreement

Nigeria, Netherlands reopen double taxation agreement

July 8 2025

EDITORIAL REVIEW

Overhaul Nigeria’s prisons – Punch

Overhaul Nigeria’s prisons – Punch

by The Editor
July 3 2025
0

ICPC secures conviction against aviation worker over fake employment

Second term bid interfering with governance – Punch

by The Editor
July 1 2025
0

The 2027 deadline for CBT examinations – The Sun

The 2027 deadline for CBT examinations – The Sun

by The Editor
June 22 2025
0

Maryam Abacha’s forged revisionism – Punch

Maryam Abacha’s forged revisionism – Punch

by The Editor
June 22 2025
0

Benue carnage: Beyond army chief’s relocation – Punch

Benue carnage: Beyond army chief’s relocation – Punch

by The Editor
June 17 2025
0

Opinion

Tinubu cancels national broadcast, to address Nigerians from N’Assembly

Tinubu, The Audacity To Hope: Two years after

by The Editor
June 12 2025
0

...

Supreme Court affirms Mbah as Enugu State Governor

2027: Mbah, PDP and newfound political romance in Enugu

by The Editor
May 17 2025
0

...

Nigeria should emulate India’s blueprint for development

Nigeria should emulate India’s blueprint for development

by The Editor
April 21 2025
0

...

Much ado about immortalising Humphrey Nwosu

Much ado about immortalising Humphrey Nwosu

by The Editor
March 31 2025
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.