Umahi present N208.332bn as 2018 budget 

 

 

Governor David Umahi of Ebonyi state on Friday presented 2018 appropriate bill estimate of N208.332 billion to the state House of Assembly for approval.

The bill, which was tagged: “Budget of Divine Manifestation”, covered N100.562 billion which would be sourced from both internal and external loan.

Presenting the budget, Umahi explained that N13.965 billion will come from internal generated revenue.

Umahi further noted that inflow from Federation Account will gulp N72.916bn and N18.889bn unutilised dedicated funds that would be carried forward into the budget.

He maintained that capital expenditure stood at N165.005 billion inclusive of contingency provision of N5.5bn for capital projects, while recurrent expenditure would gulp N43.326bn (including inbuilt contingency fund of N3bn).

According to Umahi, “the economic sector has a provision of N124.064, thus taking the largest-chunk of the capital provision. This is justified on the basis of government’s serious commitment to commence the construction of flyovers, rehabilitation of urban roads, construction of rural roads, water reticulation in our urban centers among other commitments”.

“Within the economic sub-sector, works and transport has the highest allocation of N96.567bn followed by Ministry of Power with the sum of N4.626bn and the sum of N63.811bn is shared among other sub-sectors”, he said.

Umahi also said that his administration in 2018 would increase her tax aggressively by diversifying into numerous untapped tax revenues.

He, however, stressed that the 2018 budget was higher than that of 2017 with about N81 billion.

 

Leave a Reply