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Enugu: Gov Mbah Presents ₦971 Billion Budget For 2025

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4 hours ago

Nov 26, 2024.

Governor Peter Mbah of Enugu State has presented a ₦971 billion budget proposal for the 2025 fiscal year to the state’s House of Assembly, emphasizing poverty eradication and inclusive growth.

Tagged the “Budget of Exponential Growth and Inclusive Prosperity,” the estimates comprise ₦837.9 billion for capital expenditure (86% of the budget) and ₦133.1 billion for recurrent expenditure (14%).

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EKO HOT BLOG reports that Governor Mbah highlighted the remarkable increase in the state’s Internally Generated Revenue (IGR), which rose by 286.2%, from ₦37.4 billion in 2023 to ₦144.7 billion by September 2024.

“Our goal remains clear—to elevate Enugu State into the top three in GDP nationwide, eradicate poverty, and attract substantial private investments,” Mbah stated. He also pointed out the 86.4% increase in the proposed budget compared to the ₦521.6 billion allocated in 2024, reaffirming his administration’s commitment to driving sustainable growth from the sub-national level.

Education, health, agriculture, and infrastructure received the highest allocations. The education sector alone accounts for ₦320.6 billion, representing 33.2% of capital expenditure and 78% of the social sector allocation. Healthcare is allocated ₦45.8 billion to ensure quality service delivery, while ₦213.1 billion is earmarked for works and infrastructure, focusing on road development.

To combat food inflation, ₦82.3 billion has been set aside for agriculture and agro-industrialization. Additionally, ₦41.1 billion is allocated for transport projects, including acquiring four aircraft to expand Enugu Air, constructing a cargo terminal, and launching a taxi modernization scheme in collaboration with private investors.

Governor Mbah concluded by reiterating his administration’s vision to foster exponential growth and prosperity, ensuring no segment of society is left behind.