The Enugu State Governor Dr. Peter Mbah has presented a budget of nine hundred and seventy-one billion, eighty-four million naira only (N971,084,000,000) for the year 2025 to the State House of Assembly for consideration and approval.
Presenting the budget tagged: ‘Budget of Exponential Growth and Inclusive Prosperity’ on Tuesday in Enugu, Mbah revealed the 2025 budget estimate is 86.4 percent higher than the 2024 revised budget; year 2024 budget of five hundred and twenty-one billion, five hundred and fifty-six million, three hundred and twenty-six thousand naira only (N521,556,326,000).
The proposed year 2025 budget allocates the sum of one hundred and thirty-three billion, one hundred and forty million naira (N133,140,000,000) out of the total budget sum to recurrent expenditures and eight hundred and thirty-seven billion, nine hundred and forty-four million naira only (N837,944,000,000) to capital expenditures.
The Education sector got three hundred and twenty billion, six hundred million naira (N320,600,000) of the total capital expenditures; two hundred and sixty billion naira (N260,000,000) to Works and Infrastructure; eighty-two billion naira (N82,000,000) to Agriculture; forty-five billion naira only (N45bn) to Health sector and thirteen billion naira (N13bn) to Sports sector.
The State Governor further revealed an enormous increment in the state’s Internally Generated Revenue, IGR, from N37.4bn at the end of 2023 to N144.7bn by September 2024; this represents 286.2 percent increase.
For the fiscal year 2025, the budget estimate on sources of revenue, Dr. Mbah said, “In the area of our revenues, we estimated that total Recurrent revenues during 2025 will amount to N692,179,000,000 as against the approved revised provision for 2024 of N383,789,000,000.00.”
“The Recurrent revenues for 2025 are broken down as follows: opening balance – N32,000,000,000; Internally Generated Revenue, IGR – N509,947,000,000; statutory revenue – N48,749,000,000; exchange rate differential – N26,559,000,000; and Value Added Tax, VAT, – N74,924,000,000.
On key projects to be funded by this budget, Governor Mbah mentioned the following; completion of the 260 Smart Schools, completion of the Ultra-modern International Hospital, completion of the first phase of New Enugu City, dualization of Abakpa – Opi Nsukka road, and upgrade of Nnamdi Azikiwe stadium among others.
Mbah also disclosed that the four bus terminals currently under construction at Holy Ghost, Abakpa, Garriki, and Nsukka will be commissioned on December 22, 2024, while the state-owned airline, Enugu Air, will be launched in a few weeks.
Accepting the budget, the Speaker of the House, Rt. Hon. Callistus Uche Ugwu promised that the House will give the budget an expeditious passage to enable the state governor to continue the good works in the state.
Ugwu however urged heads of Ministries, Departments, and Agencies (MDAs) to come for their budget defense timely to enable the lawmakers to consider and approve the year 2025 appropriation bill.
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