The Governor of Ebonyi state,Engr. David Umahi today, presented 2022 budget estimate of One Hundred and Forty Five Billion, Four Hundred and Ten Million,Five Hundred and Ninety Seven Thousand,Seven Hundred and Twenty-Three Naira, Forty Nine Kobo(#145,410,597,723.49).
The budget estimate which only covers the Capital and Recurrent Expenditure for the financial year ending tagged “Budget of Latter Rain” was presented to the Ebonyi State House of Assembly for screening and approval.
According to the governor,the 2022 budget estimate of #145 billion represents an increase of 46.65% over the revised approved budget of #99,157,171,152.64).
He noted that the 46.65% increase of the 2022 budget over the 2021 Revised budget is due to the carryover of a large a large part of the Expected receipts in this fiscal year to the next fiscal year.
He explained that the Capital Expenditure is #89,763,717,205 or 61.73% of the total budget while Recurrent Expenditure is proposed to be #55,646,880,517.69 or 38.27% of the total budget saying that the proportion of# 61.73% Capital to 38.27%.
“Recurrent is structured bearing in mind our determination to deepen our Capital Projects especially the completion of the ongoing Projects across the state.”
The governor further stated that the 2022 Budget and Appropriation Bill of Ebonyi state government is in fulfillment of section 121 of the 1999 Constitution of the Federal Republic of Nigeria as Amended adding that the budget Christened “Budget of Latter Rain”contains a comprehensive financial plan that will optimize the emerging opportunities the state have created and reveal the hidden treasures in the economic investment of the state.
He appreciated the speaker of Ebonyi State House of Assembly,Hon.Francis Ogbonna Nwifuru for the peaceful disposition of the House and his commitment in piloting the affairs of the House of Assembly stating calling for greater partnership in moving the entire state forward.
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Accepting the budget presentation,the speaker,Hon.Francis Nwifuru commended the governor for the outstanding performance of 2021 budget and the ingenuity of the governor to judiciously manage the public fund despite the economic downturn urging him never to allow anybody to distract him in the cause of developing the state saying that Nigerians are yearning for somebody like him to man the affairs of this nation