Edo State governor, Godwin Obaseki
EDO State Governor, Godwin Obaseki, on Monday unveiled a budget proposal of N175 billion for fiscal 2019 as against N146 billion for 2018.
Speaking before members of the Edo State House of Assembly, Obaseki explained that the budget proposal is 9.2 per cent above the 2018 budget of N146 billion.
The 2019 budget, tagged “Budget of Socio-economic inclusion has N95.8 billion voted for capital expenditures, while N79.9 billion was proposed for recurrent expenditure.
The governor said the budget proposal had a deficit of N27.4 billion which would be funded through internal and external financial interventions from the Central Bank of Nigeria (CBN) Special programmes and the World Bank.
He said the budget was planned with 60 dollars benchmark crude oil price and increased state internally generated revenue.
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“The 2019 budget will consolidate on the infrastructural and socio-economic gains of the outgoing year 2018,” he said.
Going by the budget breakdown, N42.7 billion was allocated to infrastructure development, N9.3 billion for Health, N26.8 billion for education and N7 billion for investment promotion.
Others are N2 billion for security, N9 billion for payment of pension, while N967 million was allocated for the judiciary.
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