Ebonyi governor presents 2022 budget to state assembly

 

Governor Dave Umahi of Ebonyi State presented a budget estimate of N145.4 billion to the state House of Assembly for approval on Wednesday. 

"Budget of Latter Rain" is the title of the appropriation bill. Mr. Umahi claimed that it had a detailed financial plan that would help his administration take advantage of new prospects. 

It would, according to the governor, uncover the state's hidden jewels in terms of economic investment. 

He claimed that the 2022 budget projection represented a 46.65% increase over the N99.157 billion amended authorized budget for 2021. 

The rise, according to Mr Umahi, is attributable to the carry-over of a major portion of the estimated receipts from the fiscal year 2021 to the fiscal year 2022.

The state expects roughly N4.32 billion from the Tertiary Education Trust Fund (TETFund) for tertiary institutions, according to the governor. 

He claimed that the Universal Basic Education Board (UBEB) has increased its revenue by more than N1.2 billion. 

The budget would also be supported, according to Mr Umahi, from money projected to flow from the State Fiscal Transparency Accountability and Sustainability (SFTAS), which now stands at N16.73 billion. 

The World Bank's COVID-19 grants of N1 billion and the Federal Government's bridging funding of N18.23 billion are the other sources of revenue. 

He stated that a N7 billion local loan will be required to cover the budget shortfall in 2022. 

Mr Umahi said the planned capital expenditure was N89.76 billion, or 61.73 percent of the overall budget, while recurring expenditure was N55.65 billion, or 38.27 percent.

He noted that the proportion of 61.73 per cent capital expenditure to 38.27 per cent recurrent expenditure was structured bearing in mind the state’s determination to deepen capital projects development. 

Mr Umahi said his administration was resolute in completing projects in the state, tackling education, human capital development and engaging the people through agriculture and other entrepreneurship programmes. 

He said that in that regard, the state would prioritise key sub-sectors of the economy including education, works, infrastructure, agriculture, human capital development and Health. 

He said the six critical sub-sectors got over N77.47 billion covering 53.28 per cent, while other sub-sectors had over N67.940 billion covering 46.72 per cent.

The Ministry of Education received a budget estimate of over N24.4 billion, accounting for 16.78 percent of the entire budget, while the Ministry of Infrastructural Development received over N17.58 billion, accounting for 12.03 percent. 

The Ministry of Works and Transport received N24.33 billion, or 16.74 percent of the total budget. The Ministry of Human Capital Development and Monitoring received N3.61 billion, or 2.48 percent of the total, while the Ministry of Health received N7.62 billion, or 5.24 percent. 

The Ministry of Agriculture was given N3.62 billion, which is 2.38 percent of the budget forecast for 2022. Mr Umahi stated that the state would provide grants to farmers as well as hybrid agricultural inputs in order to achieve agricultural development goals. 

He went on to say that there would be support for increasing food production, labor, and agricultural infrastructure.

 The governor stated that his administration would make an attempt to provide more jobs to the people in the fiscal year 2022. He also stated that efforts would be taken to prevent revenue leakages and illicit collects. 

Mr Umahi predicted that the ongoing dualisation of the Abakaliki-Afikpo and Abakaliki-Enugu highways will be completed in excess of 80% by the end of 2022.