{"id":4945,"date":"2011-12-03T02:20:47","date_gmt":"2011-12-03T02:20:47","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/12\/edo-presents-n148-b-budget\/"},"modified":"2011-12-03T02:20:47","modified_gmt":"2011-12-03T02:20:47","slug":"edo-presents-n148-b-budget","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/12\/03\/edo-presents-n148-b-budget\/","title":{"rendered":"Edo presents N148.b budget"},"content":{"rendered":"
\n

BY GABRIEL ENOGHOLASE,\u00a0 Benin
EDO state government is to spend the sum of N148.87 billion for its services in the 2012 fiscal year, Governor Adams Oshiomhole announced in\u00a0 Benin yesterday while presenting the budget estimate to the State House of Assembly.<\/p>\n

The 2012 budget is N14.98 billion higher than that of 2011 which was N133.89 billion.<\/p>\n

The governor explained that the budget which is made up of N84.9 billion Capital Expenditure and N63.97 Recurrent Expenditure would be financed from recurrent receipt of N105.42 billion and capital receipt of N47.65 billion.<\/p>\n

A break- down of the recurrent receipt indicates that the state is expected \u00a0to earn N51 billion from statutory allocation, internally generated revenue N23.92 billon, 13 percent oil derivation fund N12 billion; excess crude oil reserve, N3billion; budget augmentation, N2.5 billion; multi-lateral debt refund, N4 billion and value added tax N9 billion.<\/p>\n

The capital receipt, Oshiomhole explained, is made up of transfer consolidated revenue fund, N41,46 billion; opening, N5 billion; grant, N6 billion; ecological fund, N2 billion and miscellaneous\/contingencies, N2 billion.<\/p>\n

Besides, he explained that the budget contains a projected deficit of N28.44 billion to be funded through the World Bank budget support facility and additional credit lines.<\/p>\n

The budget tagged \u201cBudget of Continuity\u201d has as its primary objectives , the accelerated completion of ongoing infrastructural projects; extension of infrastructural projects to additional communities and critical areas of deficit; equipments and maintenance of completed and existing infrastructure and employment and wealth creation.<\/p>\n

Oshiomhole explained that the 2012 budget proposal also aimed at improving the delivery capacity of public institutions and personnel, as an overall strategy to enhance the quality of governance, saying that it was the belief of his administration that \u201cgovernment must work optimally to deliver development to the greatest number of our people, at the most reasonable cost and in the shortest possible time.\u201d<\/p>\n

He explained that the high recurrent expenditure component of the budget was due largely to the implementation of the new wage structure and the need to provide for the emolument of professional staff to be recruited in key MDAs.<\/p>\n

Highlights of some sectoral allocations include flood\/erosion control, environmental protection and beautification, N18 billion; education, N7.5 billion, out of which the sum of N2.8 billion is allocated for the construction of additional primary and junior secondary schools; N1.2 billion for the reconstruction of additional senior secondary schools and N1 billion for the construction of three new comprehensive model colleges in Evboneke, Ubiaja and Abudu.<\/p>\n

The health sector was allocated the sum of N4 billion, out of which N1.8 billion is proposed for the execution of outstanding works a the new hospital complex in Benin City.<\/p>\n

Governor Oshiomhole while assuring that the 2012 budget would usher in great advances in the peoples-shared effort to make the state better, expressed his appreciation to the people of the state.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

See the original post:
\nEdo presents N148.b budget<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BY GABRIEL ENOGHOLASE,\u00a0 Benin EDO state government is to spend the sum of N148.87 billion for its services in the 2012 fiscal year, Governor Adams Oshiomhole announced in\u00a0 Benin yesterday while presenting the budget estimate to the State House of Assembly. The 2012 budget is N14.98 billion higher than that of 2011 which was N133.89 billion. The governor explained that the budget which is made up of N84.9 billion Capital Expenditure and N63.97 Recurrent Expenditure would be financed from recurrent receipt of N105.42 billion and capital receipt of N47.65 billion. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4945","post","type-post","status-publish","format-standard"],"yoast_head":"\nEdo presents N148.b budget - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/12\/03\/edo-presents-n148-b-budget\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Edo presents N148.b budget - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"BY GABRIEL ENOGHOLASE,\u00a0 Benin EDO state government is to spend the sum of N148.87 billion for its services in the 2012 fiscal year, Governor Adams Oshiomhole announced in\u00a0 Benin yesterday while presenting the budget estimate to the State House of Assembly. 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