Budget 2018: Ugwuanyi presents N98.563bn estimate

By Raphael Ede

Enugu

Enugu state Governor, Mr. Ifeanyi Ugwuanyi yesterday presented before the State House of Assembly, a budget estimate of N98, 563, 500. 000 for 2018 fiscal year.
The budget estimate is 6.7 percent less than 2017 estimate of N 105, 19, 471, 000.
Break down of the budget tagged, “Budget of Sustainable Economic Growth”,shows that the capital expenditure is N37.84 billion while N60, 776 billion is for recurrent expenditure.
Ministry of Works tops sectoral allocations with N10.4 billion, followed by education with N6.238 billion.
Others are; health, N3.7 billion; rural development N2 billion; housing, N1.18 billion; Water Resources, N782 million; agriculture, N707 million; and commerce and industry, N250 million.
On expected receipts, Ugwuanyi said the state government would get N43billion from statutory allocation and N2.5 billion from internally generated revenue.
He said the budget estimate was a multi year based on medium term expenditure framework of the federal government.
The governor also explained that the budget is anchored on the micro economic framework of N305 for one US dollars exchange rate and 2.3 million barrel a day crude oil export production.
He said that the state government has mapped out N10 million per each autonomous community in the state after a review of visit every community (VEC) programme, for the communities to execute any project of their choice.
Speaker of the state Assembly, Rt. Hon. Edward Ubosi promised accelerated passage of the budget and assured of the lawmakers’ readiness to support the state government at all times

Be the first to comment

Leave a Reply