Gov. Godwin Obaseki of Edo on Wednesday presented budget proposal of N146. 659 billion for 2018 fiscal year to the state House of Assembly.
The News Agency of Nigeria (NAN) reports that the budget proposal is 15 per cent above the 2017 budget of N127.921 billion.
The 2018 budget, tagged “Budget of Growth”, has N79. 8 billion voted for capital vote, while N66. 8 billion was proposed for recurrent expenditure.
The governor said the budget proposal had a deficit of N26.56 billion which would be funded through internal and external financial interventions from Central Bank of Nigeria (CBN) Special programme and World Bank.
He said the budget was planned with 45 dollars bench mark crude oil price with a production of 2.3million per day and increased state internally generated revenue.
“We envision a future that will create jobs; the 2018 budget will consolidate on the infrastructural and socio-economic gains of the outgoing year 2017.
“It will drive our transformation agenda in various sectors such as infrastructural development, enhancement of social welfare and sustainable environmental projects.
The budget breakdown shows that N51.7 billion was allocated to infrastructure development, N9.7 billion for economic growth and employment, N6.3 billion for education, while health will gulp N3.3 billion. (NAN)
- FEATURED18 hours ago
JUST IN: Council Of State Approves N27,000 As New Minimum Wage
- NEWS20 hours ago
El-Zakzaky To Remain In Custody, As Court Adjourns Trial
- NEWS13 hours ago
Buhari Approves Appointment Of DG Legal Aid Council
- BUSINESS20 hours ago
Total To Build Refinery, Offshore Nigeria
- NEWS14 hours ago
Court Remands Man For Stealing Pants In Osun
- COVER STORIES7 hours ago
Absence Of 99 Senators Forces Senate To Adjourn
- NEWS19 hours ago
Obasanjo, Jonathan Meet With Buhari In Presidential Villa
- NEWS19 hours ago
Plane Carrying Sala Disappears From Radar