Gov. Ugwuanyi presents N186.6 billion 2022 budget estimates

By AdvocateNews on 07/12/2021

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Enugu State Governor, Ifeanyi Ugwuanyi laying the 2022 budget estimate before the House
Enugu State Governor, Ifeanyi Ugwuanyi laying the 2022 budget estimate before the House

Enugu State Governor, Ifeanyi Ugwuanyi. on Tuesday presented to the State House of Assembly, the 2022 Budget estimates 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 per cent higher than the 2021 budget, which was ₦169.8bn.

He said ₦71.1bn of the total budget representing 38 per cent would go into the recurrent expenditure while ₦115bn representing 62 per cent would be used to finance capital expenditure.

Governor Ugwuanyi noted that the proposed budget would be financed through Federal Allocation Account Committee (FAAC), Value Added Tax (VAT), Internal Generated Revenue (IGR) and excess crude money.

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 per cent performance as at the end of the third quarter of the outgoing year.

According to him, the 2021 budget implementation was affected by the myriads of insecurity challenges across the country.

He explained that the state government generate #80.8bn representing 73.4 per cent 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 and thanked people for their trust in his administration.

Receiving the budget, the Speaker of the House, Edward Ubosi, assured the governor that the House will give speedy passage to the appropriation bill to maintain January-December budget circle.

The Speaker then directed Ministries, Departments and Agencies (MDAs) to come for their budget defence next week to enable the lawmakers pass the budget before the end of the year.

Posted 07/12/2021 7:32:36 PM

 

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