The Governor of Enugu State Peter Ndubuisi Mbah has presented a total budget estimate of Five hundred and twenty-one billion, five hundred and sixty-one million, three hundred and eighty-six thousand naira for the 2024 fiscal year, to the Enugu State House of Assembly.
Mbah who tagged the 2024-2026 Multi-Year Budget estimates as Budget Of Disruptive Economic Growth stated that it is structured to drive growth in a markedly different pattern representing a 132% increase from the 2023 revised budget.
Giving a breakdown of the government’s expected sources of revenue, the governor said that though the state had an opening balance of 11 billion Naira, it expects to rake in 252.7 billion from internally generated revenue IGR, 60 billion from statutory revenue, 16 billion Naira from excess crude oil revenues and others, while 44 billion would come from Value Added Tax.
Mbah said that in the 2024 Fiscal Year, the proposed Recurrent Expenditure is 107,227,266 Naira made up of 47,583,677 Naira Personnel Costs, 41,804,698 Naira, Overhead Costs, and N17,838,891 Consolidated Revenue Charges while the total Capital Expenditure for the year 2024 is projected at 414,334,120,000 Naira.
On a sectoral basis, the economic sector got the highest in the Capital Expenditure Distribution, which is N207.8 billion, followed by the social sector, which got N182.9 billion with education getting the lion’s share of 73.6 percent of the social service sector allocation, and 33 percent of the total budget, representing the highest in both instances.
Responding, the Speaker Uchenna Ugwu, while commending the governor for the remarkable impacts he had made in six months, including the restoration of water to Enugu city assured that the budget estimates would get accelerated passage.
Urban Radio Correspondent Emeka Chibuoke reports that the budget allocated the sum of 82,535,147,361Naira for road construction, maintenance, and rehabilitation of public buildings across the state, 21,777,421,000 Naira for healthcare, and 28,970,250,000 Naira was allocated to the water sector.
President Bola Tinubu has returned to Abuja after attending the 28th United Nations Climate Change Conference, which took place in Dubai, the United Arab Emirates UAE. Tinubu during the trip had bilateral talks with King Charles of England, the President of UAE, and leaders of several countries and multilateral partners to solidify engagements. He also witnessed the signing of an accelerated performance agreement between Nigeria and Germany to improve […]
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