Governor of Enugu State, Peter Mbah, has proposed a record ₦971bn budget bill for the 2025 fiscal year to the Enugu State House of Assembly.
Presenting the estimates entitled “Budget of Exponential Growth and Inclusive Prosperity” on the floor of the House on Tuesday, Mbah said the proposed estimates comprised ₦837.9bn capital expenditure, representing 86 per cent of the budget estimates, and a recurrent expenditure component of ₦133.1bn, representing only 14 per cent of the budget.
This topples the record-holding 2024 budget of ₦521.5bn, consisting of ₦414.3bn capital expenditure, representing 79 per cent of the total budget and ₦107.2bn recurrent expenditure, representing about 21 per cent.
However, like the 2024 budget, the 2025 budget proposal emphasizes huge investment in education as well as basic but critical infrastructure and amenities like roads and bridges, water supply, transport services, energy, modernization and digitization of public services and associated processes, with the Education sector getting a lion-share of ₦320.6bn, representing over 33 per cent of the total budget for two consecutive years.
Mbah said that this was in line with his administration’s target of poverty eradication and an inclusive development model, which ensures that no one or segment of the society is left behind.
The governor equally announced a growth in the state’s Internally Generated Revenue, IGR, from ₦37.4bn at the end of 2023 to ₦144.7bn in September 2024, representing a radical 286.2 per cent increase in line with the administration’s deliberate effort to wean the state off reliance on FAAC allocations.
Addressing the House, Mbah said, “In crafting this budget, we have sort to continue to lay the right foundation in Enugu to enhance the economy and attract even more private investment.
“In spite of the dreary economic environment across the country, for us here in Enugu, we have elected to remain bullish in our aspirations and to double down on our commitment to elevate our state to top three status in terms of GDP nationally and eradicate poverty from our midst.
Peoplesmind
