Umahi Presents N139bn Budget for 2023

Benjamin Nworie in Abakaliki

Ebonyi State Governor, Mr. David Umahi, has presented the state’s 2023 budget estimate of NI39 billion to the Ebonyi State House of Assembly.

Tagged the Budget of Divine Mandate Consolidation and Continuity, Umahi said that his administration would implement 41.67 per cent while the next administration would implement 58.33 per cent of the budget.

He said: “The budget estimate is a total of One Hundred and Thirty-Nine Billion, Three Hundred and Ninety-Eight Thousand, Two Hundred and Eighty Thousand Six Hundred and Forty Naira, only (N139,398,280,640.00).

“This consist of a Recurrent Expenditure of   N58,367,774,468.00 covering 41.87 per cent of the total budget.

“Personnel  cost is Twenty-Six Billion, Eight Hundred, Ninety-Four Million, Three Hundred, Eighty-Four Thousand Four Hundred and Sixty-Eight Naira (N26,894,384,468.00) covering 19.29 per cent of the total budget.

“Overhead cost is Thirty-One Billion, Four Hundred Seventy-Three Million, Three Hundred and Ninety Thousand Naira (N31,473,390,000.00) covering 22.58 per cent of the total budget.

“The capital expenditure of Eighty-One Billion, Thirty Million, Five Hundred Six Thousand, One Hundred and Seventy-Two Naira (N81,030,506,172.00) covering 58.13 per cent of the total budget estimate.”

The governor explained that the 2023 budget proposal is 4.13 per cent less than the 2022 original budget and it is aimed at addressing the challenges observed so far in the implementation of the 2022 original budget.

He added that the proposed budget would commence the setting up of the two universities, namely the ICT University at Oferekpe, Izzi and the Aeronautical University at Ezza.