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General News of Thursday, 2 December 2021

Source: www.thisdaylive.com

Umahi presents N145.4bn budget for 2022

Ebonyi State Governor, David Umahi Ebonyi State Governor, David Umahi

Ebonyi State Governor, Mr David Umahi, has presented a budget estimate of N145,410,597,723.49 for the 2022 fiscal year.

Tagged: “Budget of Latter Rain,” the 2022 budget estimates represented an increase of 46.65 per cent over the 2021 revised budget of N99.1 billion.

Umahi explained that the increase was due to the carryover of a large part of the expected receipts in the 2021fiscal year to 2022 fiscal year.

He said: “The following expected receipts will happen in our 2022 fiscal year of which some of them were expected receipts in our 2021 budget which could not happen and are now deferred to 2022 fiscal year.

“We expect about N4.315 billion from TETFund for our tertiary institutions; UBEB growth of over N1.2 billion; SFTAS of N16.727 billion; World Bank COVID-19 grants of N1billion; Federal Government of Nigeria bridging finance of N18.225 billion given to each of the 36 States in Nigeria and domestic loan of N7 billion to fund 2022 budget deficit.”

In the breakdown, the proposed capital expenditure is N89,763,717,205 or 61.73 per cent of the total budget while recurrent expenditure is proposed to be N55, 646, 880, 517.69 or 38.27 per cent of the total budget.

In the sectoral breakdown, the Ministry of Infrastructural Development for Concession is having the sum of N17,498,506,922.44 covering 12.03 per cent while the Ministry of Works and Transport will gulp N24,335,057,558.09, which is 16.74 per cent of the budget sum.

The Ministry of Human Capital Development and Monitoring got N3,612,684,038.76, which is 2.48 per cent while the Ministry of Health got N7,626,686,246.07 only covering 5.24 per cent of the proposed budget.

The Ministry of Agriculture has been allocated the sum of N3,425,238,354.88, covering 2.38 per cent.

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