David Umahi, the governor of Ebonyi State, on Tuesday, December 15, 2020, presented a total of N122,852,045,222.49 billion proposed budget for the 2021 fiscal year to the Ebonyi State House of Assembly.
The governor, while presenting the bill tagged “Budget of Stabilization and Consolidation in a Recession” to the lawmakers, explained that the budget is expected to be funded through the Federation Account estimated at about N52 billion representing a total of 42.33% of the budget.
He added that “Other revenue heads like IGR, sales of international market stores, land proceeds, sales of malls, other receipts etc will account for the balance of N57.994 billion representing the total of 47.53% of total budget.
“We are projecting to increase our IGR from projected N10,569,074,353.56 in 2020 budget to N12,858,297,657.83 representing the total of 10.47% of our total expected revenue.”
Umahi said that the 2021 budget was just 0.6% higher than 2020 budget performance.
He explained that the recurrent expenditure is projected at N49.141 billion representing 40% of the total budget.
He said: “This amount is about N15.11 billion above the projected recurrent expenditure by 2020 Dec. 31st, the major increase in recurrent expenditure is from the social sector, especially health and education which account for over 34.7% of our total budget.
The governor, however, said the capital expenditure is estimated at N73.711 billion representing 60% of the total budget, and N5.95 billion was projected for 2020 by Deember 31st, adding that “This increase in the amount is due to our 2021 target of completing most of our ongoing projects” he said.
He noted further that “We have a budget of N3,259,779,838.94 presenting 2.65% of the total budget. Out of this amount, we intend to deploy N3bn as End SARS empowerment programme for our youths and women,” he stressed.
The motion for the adoption of the bill was moved by Victor Chukwu, representing Ezza North west and seconded by Anthony Nwegeda, representing Izzi east constituency.
The bill later passed the first and second reading.
Responding, the speaker, Francis Nwifuru, however, assured the governor of their preparedness to ensure the speedy passage of the bill in the house.
Source: Daily Post
