UMAHI PRESENTS BUDGET TO EBONYI ASSEMBLY

Ebonyi State Governor, David Umahi on Wednesday presented the 2022 Appropriation Bill of N145,410,597.49 to the House of Assembly.

Tagged “Budget of Latter Rain”, the Governor said major revenue to finance the budget is expected to come from the Federal Allocation while other revenues are expected to come from other revenue heads.

The Governor said the 2022 estimates represent an increase of 46.65% over the revised budget of N99.157.171.65.

He explained that the increase is due to the carryover of a large part of the expected receipts in the 2021 fiscal year to the next fiscal year.

Among such carryovers, he noted, is the Federal Government bridging finance of N18.225bn which he said is given to each of the 37 States in the country.

“We expect N4.315bn from TETFund for our tertiary institutions, UBEB growth of over N1.2bn, SFTAS of N16.727bn and Domestic Loan of N7bn”, Umahi told the Lawmakers.

The Governor revealed that the proposed capital expenditure of the budget is N89.763.717.205 representing 61.73percent while recurrent expenditure is proposed to be N55.646.880.517.69 or 38 27 percent of reg total budget.

“This proportion of 61 73peecent of capital to 38.27 percent recurrent is structured bearing in mind our determination to deepen our capital projects development especially the completion of ongoing projects”, he said.

A breakdown shows that education, works and infrastructural development for concession ministries got the highest chunk of the budget.