Comrade Adams Oshiomhole recently presented the state's 2014
budget estimates of N159.213 billion to the House of Assembly for approval.
The budget, tagged: “Budget of Renewed Hope”, was aimed at
taking the state to the next level. It is N5.088 billion higher than the
2013budget, which stood at N154,125 billion.
According to Oshiomhole, the budget, which is aimed at
opening up the state’s economy for rapid socio-economic development, is made up
of N85,595 billion or 53.76 per cent Capital Expenditure and N73.617 billion or
46.24 per cent Recurrent Expenditure.
On funding the budget, he said government hopes to get
N115.589 billion as revenue; N65.331 billion as statutory receipts; N25.095
billion from Internally-Generated Revenue, N4.899 billion from Aids and Grants;
N8.246 billion from VAT, N6.423 from Excess Crude Account and N5.595 billion
from Capital Receipts.
Road projects will take the lion’s share of the budget,
amounting to N24 billion of the capital expenditure; followed by education,
which takes N15 billion; flood and erosion control/environmental protection
takes N10.295 billion; health, N8 billion; agriculture, housing and urban
planning take N1.5billion each.
Expatiating on the Health sector, Oshiomhole said
“Government plans to complete the construction and equipping of the new
accident and emergency 200 bed ward complex at the Central Hospital, Benin
City, completion and furnishing of the 2nd and 3rd floors of the Block D of the
new secretariat complex to provide permanent accommodation for the ministry.”
While reviewing the state's 2013 budget, he said: “In 2013,
revenue performance was affected by the reduction in the Personal Income Tax,
leading to a big drop in our Internally-Generated Revenue to the tune of N500
million monthly. The drop in the allocation from the Federation Account arising
from the alleged oil theft has also adversely affected the revenue profile of
the state.”
Governor Oshiomhole, however, noted that despite the
challenges, “I am delighted to report that we have remained faithful to our
wage obligations despite the dwindling allocations and inflows from federal
sources, which led to delay in payment of salaries by some more buoyant states
and even the Federal Government.
“We have equally honoured our pensions and gratuity
commitments. As at the end of September 2013, we have disbursed N2.942 billion
to pensioners towards the liquidation of inherited gratuity liabilities.
“On the whole, we have sustained our policy of financial prudence
and budget discipline, which has kept the cost of governance within reasonable
limits and ensured that more resources are channelled to capital expenditures
and welfare-enhancing projects.”
Responding, the Speaker of the Edo State House of Assembly,
Rt. Hon. Uyi Igbe, said the House would expedite action on the budget
proposals. He noted that the governor's reading of the budget on the floor
makes the first reading according to the Assembly rules.
No comments:
Post a Comment