Peter Mbah, Enugu State governor, on Tuesday presented an ambitious N971 billion budget to the state assembly, with a target to transform Enugu into one the top three states in the country by Gross Domestic Product (GDP).
A breakdown of the budget shows tha N837.9 billion, constituting 86% percent will go into capital expenditure, with the governor determined to upgrade infrastructure and launch a state owned airline, Enugu Air.
Out of the entire budget, education got the highest allocation of N320.6 billion, which accounts for 33.2 percent, while in second place is infrastructural development, which git N213.1 billion, with a focus on upgrading roads and public works.
Announcing the details of the budget in a statement on Tuesday, Governor Mbah said, "Today, I presented the 2025 budget proposal titled Budget of Exponential Growth and Inclusive Prosperity to the Enugu State House of Assembly. This N971 billion budget represents our commitment to transforming Enugu into one of the top three states in Nigeria by GDP while eradicating poverty in our communities. It is a bold and deliberate step towards achieving exponential growth and inclusive prosperity for Ndi Enugu.
"The proposed budget is structured to prioritise capital expenditure at N837.9 billion, constituting 86% of the total budget, while recurrent expenditure stands at N133.1 billion, representing only 14%. This marks an 86.4% increase from the 2024 budget and underscores our determination to sustain and amplify our development agenda.
"Education remains at the forefront of our priorities, as it forms the bedrock of a knowledge-based economy and a tool to eradicate poverty. To this end, we have allocated N320.6 billion, which accounts for 33.2% of the total budget. Beyond education, healthcare will receive N45.8 billion to ensure quality service delivery, while N213.1 billion has been earmarked for infrastructure development, with a focus on upgrading roads and public works.
"We recognise the critical role of agriculture in curbing food inflation. That is why we have set aside N82.3 billion to boost food production and agro-industrialisation. Additionally, N41.1 billion will be deployed to transform our transportation sector, including the expansion of Enugu Air with four new aircraft, the concessioning of Akanu Ibiam International Airport, and the development of an international cargo terminal.
"Our achievements in revenue generation reflect the strength of our economic reforms. The state’s Internally Generated Revenue (IGR) grew from N37.4 billion in 2023 to a projected N144.7 billion by September 2024 - a remarkable 286% increase. This progress aligns with our deliberate efforts to reduce reliance on federal allocations and achieve fiscal independence.
"While addressing the House, I emphasised that this budget reflects our vision to establish a solid foundation for exponential growth and inclusive development. Despite the economic challenges nationwide, we remain resolute in our commitment to charting a progressive path for Enugu State. By prioritising key sectors such as education, healthcare, infrastructure, agriculture, and transportation, we aim to drive sustainable development and uplift every segment of our society.
"I extend my heartfelt gratitude to the Speaker of the House, Rt Hon. Engr. Uchenna Ugwu, and the entire Assembly for their support and assurance of an expedited passage of this transformative budget. Their dedication to our shared vision underscores our collective resolve to make Enugu a beacon of progress and prosperity."
Leave a Reply