Edo Budgets N150 Billion For 2013

Governor Adams Oshiomhole of Edo State Monday presented a budget proposal of N150 billion for its service in 2013 fiscal year to the State House of Assembly.

The budget titled “Taking Edo Sate to the next level,” is made up of N87. 4 billion Capital Expenditure and N62.6 billion Recurrent Expenditure.

Oshiomhole said the objectives of the budget include completion of all on-going infrastructural projects, prioritizing technical education to broadening skill acquisition, growing the economy with focus on agriculture, focus on poverty reduction measures and wealth serration through youth empowerment.

He explained that, the budget would be financed from proposed recurrent revenue of N116 billion made up of N86.51 billion statutory receipt, N26.97 billion internally generated revenue and projected capital receipts of N64.3billion.

Also, the budget has a projected deficit of N23billion which he said would be financed through the World Bank budget support facility and additional credit lines.

According to the Governor, the N62.6 billion recurrent component of the budget is made up of Personnel costs N25.46 billion, Overhead costs, N16.40 billion and Consolidated Revenue Fund charges N20.76 billion.

He said the proposed N87.40 Capital Expenditure will be allocated as follows, Works (Roads) N33.35 billion; Education N14.55 billion; Drainage and Sewage/Environmental Protection, N13.29 billion; Health N2.80 billion and Water N1.00 billion.

Some of the sectoral allocations include Education N26.7 billion made up of N14.6 billion Capital and N6.78 billion recurrent expenditure; Health N6.78 billion; Water N1.00 billion; Agriculture N400 million; Public/Administrative Buildings N1.65 billion and Electricity N765 million.

By Jethro Ibileke/Benin