HomeUncategorizedUgwuanyi Tables ₦166.6B 2023 Budget To State Assembly

Ugwuanyi Tables ₦166.6B 2023 Budget To State Assembly

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Governor Ifeanyi Ugwuanyi of Enugu State on Thursday presented to the State House of Assembly, the 2023 budget size estimated at One Hundred and Sixty-Six Billion, Six Hundred and Two Million, Four Hundred and Sixteen Thousand, Seven hundred and Seventy Naira (NGN166,602,416,770.00).

Presenting the 2023 budget proposal tagged: ‘Budget of Consolidation and Transition’, Governor Ugwuanyi stated that the budget which will be implemented by his administration between January and May 2023 is intended to conclude all on-going projects as much as possible, consolidate his administration’s achievements in the past seven and half years, and transit the state into the capable hands of the inbound administration.

The Governor disclosed that the estimated budget size of N166,602,416,770.00 is 10.73 percent lower than the 2022 budget “because the target in 2023 is to conclude all on-going projects and consolidate on our achievements in the past seven and half years.”

He added that out of the total budget size, the sum of N81,903,799,370.00 representing 49% is for recurrent expenditure, while N84,698,617,400.00 representing 51% is for capital expenditure.

Read Also: Oil Producing Status: My Successor Won’t Suffer – Ugwuanyi

Governor Ugwuanyi explained that the 2023 budget is guided by the Medium-Term Expenditure Framework (MTEF) 2023-2025 and Fiscal Strategy Paper (FSP) and anchored on the National Macroeconomic assumptions, namely; National Inflation Rate of 17.16 percent, National Real GDP Growth of 3.75 percent, Oil Production Benchmark of 1.69 million barrels per day, Oil Price Benchmark of $70 per barrel, and Exchange Rate of N435.57 per US Dollar.

Hinting on the key deliverables of the 2023 budget, the governor stated that his administration’s fundamental intents include provision of security for life and property; construction, reconstruction and rehabilitation of urban roads; opening up of several rural areas through the construction of rural and earth roads as well as bridges to link up communities for movement of persons, agricultural products, goods and services; rehabilitation of Oji Water Scheme and other water facilities under the French Development Agency (AFD) support for the 3rd National Urban Water Sector Reform Project to upgrade water supply to Enugu Metropolis; construction, reconstruction and furnishing of classrooms for teaching and learning in basic education and provision of infrastructural facilities, science and hospital equipment for teaching and learning in the State University of Science and Applied Medical Sciences, SUMAS, Igbo-Eno.

Other key intents of his administration in the 2023 budget are infrastructural investments in the Judiciary to enhance the judicial environment for the dispensation of justice; expansion of the gains recorded in the Agro Processing Productivity Enhancement and Livelihood Improvement Support (APPEALS) Project in the pursuit of food security in the state; provision of agricultural inputs, assets, and wet market infrastructure for food production and enhanced food processing; completion, furnishing, equipping and operationalisation of newly built healthcare facilities including the State Infectious Disease Hospital, Amenity building at Enugu-Ezike General Hospital, Ogrute, additional Type 3 Primary Healthcare Centres in Uzo-Uwani, Awgu and Aninri LGAs, Cottage hospitals with isolation wings etc for enhanced healthcare delivery; sustainable municipal waste management; upgrade of power installations and extension of power to rural communities of the state, among others.

The Eastern Updates

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