Edo State Governor Godwin Obaseki has presented a budget proposal of one hundred and fifty three billion naira for the 2021 fiscal year to the State House of Assembly.
The budget which is expected to drive growth and progress in all sectors of the state, has N94.8 billion for recurrent and 58.6billion for capital expenditure.
The Budget christened “Make Edo Great Again” is 9.7% higher than the 2020 revised budget of N139.8 billion.
Governor Obaseki said the budget will be financed from N71 billion of the federal account, N36 billion from the Internal Generated Revenue (IGR), N8.9 billion from Aids and Grants, N153.3 billion from loans, N13.8 from Capital Development Fund Receipt and N7.5 billion balance of the 2020 fiscal year.
He assured that his administration has put structures in place to ensure that the fiscal deficit established in the budget is below the recommended deficit ceiling in order to ensure a positive solvency position for the government.