Governor David Umahi of Ebonyi State on Wednesday presented to the state House of Assembly a budget proposal of N127.2 billion for 2017 fiscal year.
The Appropriation bill, tagged: Budget of Inclusive Growth and Poverty Reduction in Economic Recession, set aside N87,061,505,780 for capital expenditure, representing 68.43 per cent, while N40.171 billion was set aside for recurrent expenditure being 31.57 per cent of the total estimate.
The Economic Sector got the largest share from the capital spending at N57,078,912,530. The social sector got N14.1 billion, while administration received N9.9 billion.
The total estimate of about N127.23 is above that of 2016 budget, which was N101.1billion.
The governor said the money will be used in construction of roads, provision of water, electricity, agriculture, education, commerce and industries.
Umahi also said the state would borrow N40 billion to enable the government complete ongoing road, agricultural, and infrastructural projects.
The governor assured the people of the state that his administration is seriously inspired to complete the various sectors catalogued in the budget to ensure that growth level of the economy of the state come to an enviable level.
Speaker of the Ebonyi State House of Assembly, Francis Nwifuru, said the legislature was very satisfied with the fiscal prudence demonstrated by the government in the implementation of this year’s budget, while pleading with the governor to increase funding to the House of Assembly to allow it perform its duties.
“You have done very well in all sectors in the obvious economic challenges facing the country, where most states are still finding it difficult to pay salaries,” he told the governor.