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HomeNEWSUmahi presents N123b budget for 2021

Umahi presents N123b budget for 2021

Ebonyi state Governor David Umahi has presented an N122.85 billion Appropriation Bill for the 2021 fiscal year to the House of Assembly.

Umahi said the ‘Budget of Stabilisation and Consolidation in a Recession’ will be funded from the federal allocation while other revenue heads are expected to come from sales of international market stores, land proceeds, sales of malls and other receipts.

The governor also projected 10.47 per cent increase in the Internally Generated Revenue from N10 million in 2020 to N12 million.

Umahi said: “Our major revenue is expected to come from Federation Allocation, estimated at about N52 billion or 42.33 per cent of the budget. Other revenue heads like IGR, sales of international market stores, land proceeds, sales of malls, other receipts etc, will account for the balance of N57.994 billion or 47.53 per cent of the total budget.

“We are projecting to increase our IGR from N10 million in 2020 to N12 million. Our projected actual revenue receipts by December 31 this year is N122 million (92.53 per cent performance). We are therefore staying on the side of what is possible by our 2021 budget of N122.85 million, which is just 0.6 per cent higher than our projected 2020 budget performance.”

Human capital Development and Empowerment takes N3 million (2.65 per cent) of the budget. Ministry of Health and Health-Related Programs takes N18.7 million (15.23 per cent); Education (N23.9 million); Works and Transport (N9 million.)

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