The Ebonyi state Governor, Engr. David Umahi has presented a total budget proposal of 139 billion naira to the State House of Assembly for the 2023 fiscal year.
The budget, presented during plenary at the Assembly complex, on Monday, is christened “Budget of Divine Mandate Consolidation and Continuity”.
It has ₦58,367,774,468.00 for recurrent Expenditure and ₦80,030,506,172.00 for Capital Expenditure.
Speaking during the presentation, Gov. Umahi pledged that his government would implement 41.67% while his successor would implement 58.33% of the budget.
His words, “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 consists 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.
“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.”
Speaking further, the Governor revealed that budget estimate is 4.13% less than the 2022 original budget.
He said it is aimed at addressing the challenges observed so far in the implementation of the 2022 actual budget.
According to him, 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.
Gov. Umahi said there was the need for the budget to prioritise areas of Education, Health, Agriculture, Infrastructure and Human Capital development.
On his part, the Speaker, Ebonyi State House of Assembly, Rt. Hon Francis Ogbonna Nwifuru, assured the governor for speedy passage of the appropriation bill.
