Governor David Umahi of Ebonyi State on Wednesday presented the 2022 budget estimate of N145,410,597,723.49 to the state assembly for approval.
The governor said that the 2022 budget estimate of over N145 billion has a 46.65% increase when compared with the 2021 revised approved budget of over N99 billion.
The 2022 budget was tagged ‘Budget of Latter Rain’ has N89,763,717,205 as its capital expenditure representing 61.73% of the total budget, while Recurrent Expenditure is proposed to be N55, 646, 880, 517.69 representing 38.27% of the total budget.
According to Umahi “I, therefore, most respectfully present to this Honourable House, a total Budget Estimate of One hundred and forty-five billion, four hundred and ten million, five hundred and ninety-seven thousand, seven hundred and seventy-three naira, forty-nine kobo (N145,410,597,723.49) only covering the Capital and Recurrent Expenditure for the financial year ending 2022 tagged “Budget of Latter Rain”.
“This 2022 Budget Estimate of N145,410,597,723.49 represents an increase of 46.65% over the revised approved budget of Ninety Nine Billion, One Hundred and Fifty-Seven Million, One Hundred and Seventy One Thousand, One Hundred and Fifty-Two Naira, Sixty Five Kobo (₦99,157,171,152.65).
“The 46.65% increase of the 2022 budget over the 2021 revised Budget is due to the carryover of a large part of the Expected receipts in this fiscal year to the next fiscal year. These reasons for the increase and more are clearly listed in the body of the main budget under the Explanatory Notes.”
The governor said the sum of N24,397,499,015.78, covering 16.78% of the total budget sum is for the Ministry of Education, while the sum of N17,498,506,922.44, covering 12.03% is for the ministry of Infrastructural Development for Concession.
He noted that the sum of N24,335,057,558.09, which is 16.74% of the Budget Sum is for the Ministry of Works and Transport, while N3,612,684,038.76, which is 2.48% of the budget sum is for the Ministry of Human Capital Development and Monitoring.
He said that N7,626,686,246.07, covering 5.24% is for the Ministry of Health, while N3,425,238,354.88 covering 2.38% of the 2022 budget sum is for the Ministry of Agriculture.
Umahi further revealed the preparedness of his administration to complete the construction of Flyovers, “we are prepared to make Ebonyi State as an emerging economy to host investors of different sectors of the economy.
He added that his administration will save lives and absorb the employable population of youths and women, “We have not only completed some of the flyovers we started, we have also commenced the construction of more flyovers in strategic junctions. This project will no doubt boost economic activities and create conviviality of atmosphere for industrialization.”
Responding, the Speaker of the Ebonyi State House of Assembly, EBSHA, Mr. Francis Ogbonna Nwifuru, commended the governor for the early presentation of the budget and assured him of speedy passage of the bill into law.
The House of Assembly in a motion moved by the leader, Mr Victor Chukwu representing Ezza north west constituency and the deputy leader Mr Kingsley Ikoro representing Afikpo North East Constituency, passed the budget into 1st and 2nd reading.
The House was adjourned till next week Wednesday for the final passage of the bill into law.