Seemberg News

Latest Nigeria Business News

Umahi earmarks N89.7bn for capital projects, proposes N145bn budget

Share:

Dave UmahiThe Ebonyi State Governor, David Umahi, on Wednesday, presented the 2022 Appropriation Bill of N145,41bn to the state House of Assembly.

Tagged ‘Budget of latter rain’, the 2022 proposed budget represented an increase of 46.65 per cent over the revised budget of N99.16bn for 2021.

He explained that the increase was due to the carryover of a large part of the expected receipts in the 2021 fiscal year to the next fiscal year.

He said among such carryovers was the Federal Government’s bridging finance of N18.23bn, which he said was given to each of the 36 states in the country.

“We expect N4.315bn from TETFund for our tertiary institutions, UBEB growth of over N1.2bn, SFTAS of N16.727bn and domestic loan of N7bn,” Umahi said.

According to the governor, the budget has a proposed capital expenditure of  N89.76bn (61.73 per cent) and recurrent expenditure of N55.65bn (38 27 per cent).

“This proportion of 61 73 per cent of capital to 38.27 per cent recurrent is structured bearing in mind our determination to deepen our capital projects development, especially the completion of ongoing projects,” he said.

Previous Article

MTN leads losers as stocks shed N409.56bn

Next Article

Transcorp Records N13.4bn Profit After Tax in Q3

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *