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From Chijioke Agwu,Abakaliki
Governor David Umahi of Ebonyi, yesterday, presented N122,852,045,222.49 billion proposed budget estimate for 2021 to the state House of Assembly for their consideration and approval.
The budget tagged:”Budget of Stabilisation and Consolidation in a Recession,” earmarked N73.711 billion for capital expenditure which is 60 percent of the total budget while the recurrent expenditure is projected at N49.141 billion which is 40 percent of the total budget.
He said the increase in the capital expenditure was due to the target of his administration to complete most of the ongoing projects in the state
Giving more insights into the budget, Governor Umahi said major revenue of the government is expected to come from Federation Account estimated at about N52 billion or 42.33 percent of the budget.
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He said other revenue heads like internally generated revenue (IGR), sales of international market stores, land proceeds, sales of malls and other receipts will account for the balance of N57.994 billion or 47.53 percent of the budget.
The governor said his government is expecting to increase the IGR from projected N10,569,074,353.56 in 2020 budget to N12,858,297,657.83 or 10.47 percent of the total expected revenue.
Umahi said his government would, in 2021, focus more on education, health, human capital development and infrastructure.
He thanked the Assembly and executive council members, party leaders and stakeholders for their support to his administration quest to develop the state.
