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Enugu Gov signs N521.5bn 2024 budget

Enugu State Governor, Peter Mbah, on Wednesday signed the N521.5bn appropriation bill into law. He said the budget, which has N414.3bn capital expenditure, representing 79…

Enugu State Governor, Peter Mbah, on Wednesday signed the N521.5bn appropriation bill into law.

He said the budget, which has N414.3bn capital expenditure, representing 79 per cent and N107.2bn recurrent, would rely heavily on internally generated revenue.

He charged his cabinet members on robust revenue mobilisation and service delivery.

The governor thanked the state assembly for the expeditious passage of the budget.

“What this budget signing means to the people of Enugu is that we’re going to be spending over N400bn on capital projects in the next year. This is the first time in the history of the state that we’re spending that size of funds on capital projects because we’re spending 20 times more than what has been typically our capital expenditure outlay in Enugu State.

“We called this the ‘Budget of Disruptive Economic Growth’ based on the size of our capital expenditure. It also means that we’re going to have large economic activities in Enugu State. You can imagine an economy that is typically used to doing N20bn capital expenditure now going to witness over N400bn capital expenditure.

“It’s going to be monumental in the ways our people are lifted out of poverty and in the ways economic activities will blossom. Most important is that it’s goings to ensure that we address most of the gaps we have in our social services,” he stated.

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