• Friday, July 19, 2024
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Ugwuanyi presents N186.6 billion 2022 budget proposal

Greatest message we must give to youths is message of hope – Ugwuanyi

Enugu State Governor, Ifeanyi Ugwuanyi has presented to the State House of Assembly, the 2022 Budget estimate of N186,635,135, 770.00 for consideration and passage.

Presenting the budget tagged: ‘Budget of Sustained Growth and Consolidation,’ the governor said the estimate is 9.9 percent higher than the 2021 budget, which was ₦169.8bn.

He said ₦71.1bn of the total budget representing 38 percent would go into the recurrent expenditure while ₦115bn representing 62 percent would be used for capital expenditure.

The budget, the governor said would be financed through Federal Allocation Account Committee (FAAC), Value Added Tax (VAT), Internal Generated Revenue (IGR) and excess crude money.

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According to him, the 2022 budget was prepared in line with his administration’s vision to maintain higher budgetary allocation in capital expenditure.

He noted that the capital expenditure would be channeled into the completion of the on-going projects including, the construction of Oji River Township stadium, the construction of bridges, Agbani Road, among other projects.

On the performance of the 2021 budget, Governor Ugwuanyi said the 2021 budget achieved 33.2 percent performance as at the end of the third quarter of the outgoing year.

He said the 2021 budget implementation was affected by the myriads of insecurity challenges across the country, pointing out that the state government generated N80.8bn representing 73.4 percent recurrent revenue as against ₦110bn contained in the 2021 budget proposal.

He however, maintained that despite the shortfalls in the revenue generation, the state government was able to meet up its financial obligations.

Speaker of the House, Edward Ubosi, after receiving the budget assured speedy passage of the appropriation bill to maintain January and December budget circle in the state.