Wednesday, April 17, 2024

Enugu’s 2023 budget to be part-funded by N37 billion loan, says Gov Ugwuanyi

Mr Ugwuanyi said the “Budget of Consolidation and Transition” is 10.73 per cent lower than the N186 billion presented in 2022.

• December 15, 2022
Governor Ifeanyi Ugwuanyi
Governor Ifeanyi Ugwuanyi

The Enugu State government will borrow N37 billion internally and externally as part of the funding for the N186 billion 2023 budget proposal, Governor Ifeanyi Ugwuanyi said on Thursday.

He said this during the presentation of the Appropriation Bill before the State House of Assembly.

Mr Ugwuanyi said the “Budget of Consolidation and Transition” is 10.73 per cent lower than the N186 billion presented in 2022.

The governor revealed that the recurrent expenditure was N81 billion, representing 49 per cent of the total budget while the capital expenditure is pegged at N84 billion, representing 51 per cent of the 2023 budget.

He explained that the expected revenue for the budget would be received from different sources, including N30 billion from Internally Generated Revenue (IGR), N4 billion from Excess Crude while N6.6 billion would be from aids and grants.

According to him, his administration intends to complete all ongoing projects scattered across the state before his administration ends on May 29, 2023.

Mr Ugwuanyi said the state government would, aside from delivering infrastructural projects to the citizens of the state, ensure adequate protection of lives and properties in the state.

Some projects contained in the 2023 budget, according to the governor, include construction of rural roads, rehabilitation of Oji water scheme, construction, reconstruction and furnishing of classrooms and extension of power to rural communities.

On the 2022 budget performance, Mr Ugwuanyi disclosed that the previous budget as of the third quarter of 2022, has achieved only 38 per cent performance.

The governor said the enlisting of Enugu state among the oil-producing states was the greatest achievement of his administration.

While commending the House for the cordial relationship he had with legislators in the last seven years, he stressed that the 2023 budget was the last one he would present as the governor of the state.

Responding, the Speaker of the House, Edward Ubosi, commended the governor for prudent allocation of resources to key ministries, departments and agencies, stressing that it had translated to the development of the state.

Mr Ubosi gave the assurance that the assembly would give accelerated hearing to the budget, stressing that the lawmakers would pass the budget before the end of the year.

He, therefore, called on ministries, departments and agencies to come forward for their defence to enable the House pass the budget at record time.


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