W3vina.COM Free Wordpress Themes Joomla Templates Best Wordpress Themes Premium Wordpress Themes Top Best Wordpress Themes 2012

Governor Chime Budgets N93.2 Billion For 2014

Gov. Chime of Enugu state (L) in handshake with the Speaker of Enugu House of Assembly


Enugu state Governor, Barrister Sullivan Chime on Tuesday presented a budget estimate of N93,287,000, 000 (Ninety three billion, two hundred and eighty seven million naira for the 2014 fiscal year to the State House of Assembly for consideration.

Gov. Chime of Enugu state (L) in a handshake with the Speaker of Enugu House of Assembly

Gov. Chime of Enugu state (L) in handshake with the Speaker of Enugu House of Assembly

The amount, represents over N9 billion or 11%  increase over last year 2012 estimate of N83,773,203,408 (eighty three billion, seven hundred and seventy three million, two hundred and three thousand, four hundred and eight naira).

Christened, “Budget of Actualization” the estimate is made up of N39, 342,549,163 (thirty nine billion, three hundred and forty two million, five hundred and forty nine thousand, one hundred and sixty three naira) as Recurrent Expenditure, representing 42% of the budget size while N53, 944,450,837 (fifty three billion, nine hundred and forty four million, four hundred and fifty thousand, eight hundred and thirty seven naira) is for Capital Expenditure, representing 58% of the entire envelope.

Chime stated that government expected a Recurrent Revenue of N57, 490,114,000 which it intends to realize this through internally-generated revenue estimated at nine N9,190,114,000 representing 16% and its share of Federal Revenue put at N48,300,000,000 or 84%.

Works and Infrastructure received the highest sectoral allocation of N15.623 billion which according to the Governor was to enable the government actualize  its ambition of ensuring that all on-going urban and rural roads and other infrastructural development projects were completed and commissioned before the end of the 2014.

The Education sub sector came second with N5.78 billion covering allocations to the Ministry of Education, State Universal Education Board, the Post-Primary School Management Board, Enugu State University of Science and Technology (ESUT), Institute of Management and Technology (IMT), College of Education (Technical), State Scholarship Board and the Science & Vocational Schools Management Board.

Rural Development and Health received N4.7766 billion and N4.124 billion respectively while Agriculture got N3.857.55.

The Governor explained that the sum of N2.613 billion was set aside for urban and rural water supply while the adequate provision was also made for the payment of the State Counterpart Fund Contribution in order to be able to access the World Bank-assisted funds for the Community and Social Development Projects (CSDP).

This he said, was to enable the Agency complete all the on-going micro-projects in 120 communities in the State and also fund two hundred and fifty (250) micro-projects in one hundred and twenty (120) communities in the State during the 2014 fiscal year.

On the performance of last year’s budget, the Chime said that facts on the ground has shown that the state has made appreciable progress and landmark achievements on all fronts with the committed implementation of the budget.

Receiving the estimate, Speaker of the State House of Assembly, Hon. Eugene Odo had applauded the Governor for raising the profile of the state with his pace-setting and enduring achievements even when the state’s income was among the lowest in the country.

Odo expressed satisfaction that the budget as presented covered the development imperatives of the state and assured that the House would give it a speedy passage.

Please follow and like us:

Short URL: http://www.africanexaminer.com/?p=5775

Leave a Reply

Time limit is exhausted. Please reload CAPTCHA.

Follow by Email

FirstBank – advertisement



Browse Archives

Classified Adverts