GOV UMAHI PROPOSES OVER #120BN FOR 2021 FISCAL YEAR

Reporter: AMECHI ODO –

Ebonyi State Government has presented 122.852 (One hundred and twenty-two-point-eight-five-two) billion Naira to the State House of Assembly as its proposed budget for the 2021 fiscal year.

At the event, Governor David Umahi explained that the proposed budget had 73.7 (seventy-three-point-seven) billion Naira as its capital expenditure and 49.141 (forty-nine-point-one-four-one) billion Naira as its recurrent expenditure.

‘’Our capital expenditure estimate here is N73.711bn which is 60% of our total budget and N5.95bn over the projected actual for 2020 by Dec. 31st. This increase in the amount is due to our 2021 target of completing most of our on going projects,’’ the Governor enumerated.

Governor Umahi noted that the proposed 2021 budget was about ten billion Naira lower than the revised 2020 Budget and would be funded from the Federation account estimated at about fifty-two billion Naira and Internally Generated Revenue for the balance of fifty-seven point nine nine four billion Naira.

‘We are projecting to increase our IGR from projected N10,569,074,353.56 in 2020 budget to N12, 858, 297,657,83 or 10.4% of our total expected revenue. In 2020, our projected actual revenue receipts by Dec, 31st 2020 is N122, 138,799,059.13 which is 92.53% performance,’’ he explained.

Governor Umahi explained that the major focus of the budget were human capital development, which would gulp about three billion Naira while two hundred and fifty youths in each Local Government Area would be provided with one million Naira each as well as COVID-19 crisis and response.

“In 2021, we have budgeted 19.47% of our total budget or N23, 913,778,152.08 to Education. Our government believes that the best thing to give to the society is education.

“We will ensure that in 2021 no child of Ebonyi State is without education,’’ Governor Umahi assured.

The Speaker of the State House of Assembly, Mr. Francis Nwifuru, assured the state Governor of accelerated passage of the proposed budget for early implementation.