The Governor of Ebonyi State, David Umahi on Monday presented a total of One hundred and thirty-nine billion, three hundred and ninety-eight thousand, two hundred and eighty thousand six hundred and forty naira, (N139,398,280,640.00 ) budget estimate to the State House of Assembly.
Tagged a “Budget of Divine Mandate Consolidation and Continuity” (C to C), Umahi, who made the presentation to the state House of Assembly said his administration would implement 41.67% while the next administration would implement 58.33% of the budget.
“This consist of a Recurrent Expenditure of Fifty-Eight Billion, Three Hundred Sixty-Seven Million, Seven Hundred Seventy-Four Thousand Four Hundred and Sixty-Eight Naira (N58,367,774,468.00) covering 41.87% of the total budget”, Umahi said.
“Personnel cost is Twenty-Six Billion, Eight Hundred, Ninety-Four Million, Three Hundred, Eighty-Four Thousand Four Hundred and Sixty-Eight Naira (N26,894,384,468.00) covering 19.29% of the total budget”.
“Overhead cost is Thirty-One Billion, Four Hundred Seventy-Three Million, Three Hundred and Ninety Thousand Naira (N31,473,390,000.00) covering 22.58% of the total budget”.
“The Capital expenditure of Eighty-One Billion, Thirty Million, Five Hundred Six Thousand, One Hundred and Seventy-Two Naira (N81,030,506,172.00) covering 58.13% of the total budget estimate”.
The Governor explained that the 2023 budget proposal is 4.13% less than the 2022 original budget and it is aimed at addressing the challenges observed so far in the implementation of the 2022 original budget.
He added that the proposed budget will commence the setting up of the two universities of ICT University at Oferekpe, Izzi and the Aeronautical University at Ezza.