Edo State Assembly Passes 153.2bn Naira Budget For 2017

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Edo State Assembly Passes 153.2bn Naira Budget For 2017The Edo State House of Assembly on Monday passed the state’s 2017 budget proposal of 153.18bn Naira.

Governor Godwin Obaseki had on December 19, 2016 presented a budget proposal of 150bn Naira to the House for consideration and passage.

The budget consists of N75.11bn for capital expenditure, while the proposed recurrent expenditure stood at N74.9 billion

The House of Assembly increased the appropriation bill with about N3bn, representing 0.15 increase.

The Chairman, Assembly Committee on Appropriation and Project Monitoring, Mr Damian Lawani, said that the budget reflected the needs of the people and was designed to consolidate and complete all ongoing projects.

During the consideration of the bill, N76.6bn was allocated for capital expenditure, while N76.5bn was allocated for recurrent expenditure.

The breakdown of the proposal showed that N18.5bn, N7.2bn, N3.6bn and N6.034bn were allocated for the recurrent expenditure of the administrative, economic, law and justice and social sectors, respectively.

Also, N5.68bn, N47bn and N1.84bn and N22.09bn were allocated for the capital expenditure for the administrative, economic, law and justice and social sectors, respectively.

The House of Assembly, after the consideration of the document with amendments, passed the bill.

The Speaker, Mr Justin Okonoboh, directed that the clean copies of the bill be sent to the Governor for his assent.


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