Ebonyi State Governor, Chief David Umahi, on Monday presented a total budget proposal of 139bn to the State House of Assembly for the 2023 fiscal year.
Christened “Budget of Divine Mandate Consolidation and Continuity” has ₦58,367,774,468.00 for recurrent Expenditure while Capital Expenditure stood for ₦80,030,506,172.00.
He said that his government would implement 41.67% while his successor would implement 58.33% of the budget.
“The budget estimate is a total of One Hundred and Thirty-Nine Billion, Three Hundred and Ninety-Eight Thousand, Two Hundred and Eighty Thousand Six Hundred and Forty Naira, only (N139,398,280,640.00).
“This consist of a Recurrent Expenditure of Fifty-Eight Billion, Three Hundred Sixty-Seven Million, Seven Hundred Seventy-Four Thousand Four Hundred and Sixty-Eight Naira(N58,367,774,468.00) covering 41.87% of the total budget”, Umahi said.
“Personnel cost is Twenty-Six Billion, Eight Hundred, Ninety-Four Million, Three Hundred, Eighty-Four Thousand Four Hundred and Sixty-Eight Naira (N26,894,384,468.00) covering 19.29% of the total budget.
“Overhead cost is Thirty-One Billion, Four Hundred Seventy-Three Million, Three Hundred and Ninety Thousand Naira (N31,473,390,000.00) covering 22.58% of the total budget.
“The Capital expenditure of Eighty-One Billion, Thirty Million, Five Hundred Six Thousand, One Hundred and Seventy-Two Naira (N81,030,506,172.00) covering 58.13% of the total budget estimate,” the governor said.
He further explained that the 2023 budget proposal is 4.13% less than the 2022 original budget, stressing that it aimed at addressing the challenges observed so far in the implementation of the 2022 actual budget.
He said that the proposed budget will commence the setting up of the two universities of ICT University at Oferekpe, Izzi and the Aeronautical University at Ezza in the state.
He restated the need for the budget to prioritize areas of Education, Health, Agriculture, Infrastructure and Human Capital development.
He announced that the 2022 Budget has been implemented to 75%, and expressed satisfaction that his administration was rapidly executing the 199-kilometre Abakaliki Ring Road project in the state.
Responding, the speaker Ebonyi state House of Assembly, Rt. Hon Francis Ogbonna Nwifuru, assured the governor for speedy passage of the appropriation bill.
The budget presentation which took place at the hallowed chamber, of the Assembly complex, Abakaliki.
