Gov. Umahi of Ebonyi state presents N127.2 billion budget for 2017

Gov. Umahi of Ebonyi state presents N127.2 billion budget for 2017
Gov. Umahi of Ebonyi state presents N127.2 billion budget for 2017

Gov. Umahi of Ebonyi state presents N127.2 billion budget for 2017

Governor David Umahi of Ebonyi State on Wednesday presented to the state House of Assembly a budget proposal of N127.2 billion for 2017.

The Appropriation Bill, tagged Budget of Inclusive Growth and Poverty Reduction in Economic Recession, sets aside N87.1 billion for capital expenditure representing and N40. 171 billion for recurrent spending.

The budget for 2016 was N101.1 billion.

The economic sector got N57.1 billion as the largest allocation from the capital spending.

The governor said the money would go into providing roads, water, electricity, agriculture, education, commerce and industries.

The social sector got N14.1 billion, while administration received N9.9 billion.

The governor said the state would borrow N40 billion to accelerate growth.

He said the money would enable the government complete ongoing road, agricultural, and infrastructural projects.

Speaking earlier, the Speaker of Ebonyi State House of Assembly, Francis Nwifuru, said the legislature was very satisfied with the fiscal prudence demonstrated by the government in the outgoing fiscal year.

“You have done very well in all sectors in the obvious economic challenges facing the country, where most states are still finding it difficult to pay salaries,” he told the governor.

Mr. Nwifuru pleaded with the governor to increase funding to the House of Assembly to allow it perform its duties.

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