The Enugu State Governor, Ifeanyi Ugwuanyi on Tuesday signed the revised 2020 budget of One hundred and forty-six billion, three hundred and seventy-four million, six hundred and forty-one thousand, eighty naira only (N146,374,641,080.00) into law.
The downward review of the budget represents a 13.67 percent reduction of the initial approved 2020 budget size of One hundred and sixty-nine billion, five hundred and fifty-seven million, six hundred and fifty-eight thousand, three hundred naira only (N169,557,658,300.00).
“The review became expedient in response to the negative consequences of the outbreak of Coronavirus Disease (COVID-19) on the economy,” Ugwuanyi explained.
“We thank the State House of Assembly for ensuring that the bill receives an expeditious hearing and passage and we are optimistic that the 2020 budget tagged a budget of responsive and accountable governance will enable my administration to consolidate her development agenda,” said the Governor.
While the recurrent expenditure received a 48 percent upward review, the capital expenditure was reduced by 52 percent;
The recurrent expenditure of sixty-eight billion, seven hundred and ninety million (N68,790,000,000.00) was reviewed to sixty-nine billion, seven hundred and ninety million naira only (N69,790,000,000.00) while capital expenditure of one hundred billion, seven hundred and sixty-seven million, six hundred and fifty-eight thousand, three hundred naira only (N100,767,658,300.00) was revised to seventy-six billion, five hundred and eighty-four million, six hundred and forty-one thousand, eighty naira only (N76,584,641,080.00).
The Deputy Governor Enugu State Mrs. Cecilia Ezeilo, Speaker Enugu State House of Assembly Edward Ubosi, members of the State Executive Council, and other top government functionaries were present as the Governor signed the reviewed budget into law.