Enugu budgets ₦521.6bn for 2024 fiscal year

 

By Cosmas Chukwu

 

The Governor of Enugu state, Dr. Peter Mbah has presented the budget for 2024 fiscal year to the State House of Assembly.

 

The budget christened Budget of Disruptive Economic Growth is estimated at Five Hundred and twenty one Billion, five hundred and sixty one million three hundred and eighty six thousand Naira (₦521,561,386,000.00) and is structured to propell growth and bring about a paradigm shift in the way we things are done in Enugu State.

 

A breakdown of the budget proposal shows that the capital expenditure will take four hundred and fourteen billon, three hundred and thirty four million, one hundred and twenty thousand (₦414,334,120,000.00) while the recurrent expenditure is estimated at one hundred and seven billon, two hundred and twenty seven million, two hundred and sixty six thousand (₦107,227,266,000.00).

 

The internally generated revenue will provide 252,789,000,000.00 of the estimated amount.

 

On sectorial breakdown, the Governor kept to his promise of giving education over 30% of the budget as one hundred thirty four billion, five hundred and eighty seven million, nine hundred and eighty two thousand, six hundred and forty seven Naira, seventy eight kobo (₦134,587,982,647.78) representing 33 percent of the budget.

 

Law and Justice got ₦1,225,643,498.00; regional: ₦1,144,550,000.00; social services: ₦182,149,510,648.00; Health: ₦21,777,421,000.00.

 

Infrastructure (Road construction/maintenance and rehabilitation of public buildings) will take ₦82,535,147,361.03; water sector ₦28,970,250,000.00; Agriculture will take ₦25,184,154,671.81

 

Mbah said the budget “will go a long way in setting the pace for the achievement of our goal.”

 

The governor while appreciating the Lawmakers for the expedite action given to the supplementary budget, appealed to them to give the current budget same attention

 

He maintained that His administration’s vision remains to make Enugu be among the top three in terms of GDP and achieve zero poverty.

 

“Private sector investment is critical to the growth we seek to achieve, hence the necessary infrastructures such as roads, electricity that’s needed to drive this growth will be provided.

 

The Governor stated that We’ve taken the view that reliance on FAAC hasn’t served us well till date and will not take us to the promised land, hence this budget seeks new revenue sources such as our natural resources.

 

He disclosed that 2023 ammended budget achieved the following: we’ve been

 

Recently launched the ultramodern water scheme at 9th mile which can prodice 70million litres

 

Awarded contracts for the construction/rehabilitation/maintenance of various roads in the state such as the Enugu/airport/Eke Obinagu road of approximately 21km among others.

 

Expanded the social register from 43000 to 260,000 beneficiaries

 

Commenced accumulation of 300 hectares of land which will be given to commercial farmers and a private firm is already carrying out a pilot scheme on cassava value chain.

 

Enugu State investment roundtable which attracted top players in the economic sectors.

 

Constructing 260 smart model basic schools in the 260 wards and the pilot school at Owo is ready for commissioning.

 

260 type II health centres for in the 260 wards to catter for the health needs of the people.

 

To boost security, the introduction of DRS brought the crime rate to the barest minimum and the installation of CCTV is at advanced stage.

 

The speaker of the House, Rt. Hon. Uche Uwgu hailed the Governor for fulfilling this Constitutional obligation and assured him that the 8th assembly will support his administration to achieve the set objectives, while noting that the estimation is a record breaking one.

 

“The budget size is unusually big and in tandem with your business unusual mantra and we have confidence in your capacity to deliver and we promise to give the budget a speedy consideration