The Edo State Governor, Mr. Godwin Obaseki, has presented a N153.4 billion budget proposal to the Edo State House of Assembly, for the 2021 fiscal year.
This figure represents a 9.7 percent increase from the revised 2020 budget.
While presenting the budget before lawmakers at the old Legislative Chambers, located within Government House, Benin, Obaseki said, the budget comprises N94.8 billion for recurrent and N58.6 billion for capital expenditure.
The governor said, the document which he christened, “Making Edo Great Again (MEGA) Budget,” was designed to robustly respond to the dislocations caused by the coronavirus pandemic, whilst building a workforce of the future.
He noted that the N94.8 billion recurrent expenditure estimate for 2021 fiscal year, represents a 24 percent growth from the N76.6 billion accrual expected in the 2020 fiscal year.
Obaseki said, “The main driver of this growth is increase in allocation for salary payment and pension contributions to cater for new hires occasioned by the ongoing civil service transformation project.”
The governor explained that the impact areas for 2021 fiscal year include: education, which will gulp N20.8 billion; human capital and civil service reforms, N6.1 billion; pension and gratuities, N12.8 billion; contribution to the State Health Insurance Scheme, N1 billion; health sector, N10.3 billion and physical, urban and regional planning, which will gulp N9 billion.
Receiving the budget proposal, Speaker of the Assembly, Rt. Hon. Marcus Onobun, commended Governor Obaseki for prioritizing the welfare of Edo people, assuring him of the support of the House in his quest to make Edo great again.
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