Dr. Peter Mbah, Governor of Enugu State, has presented a record N971 billion budget bill for the fiscal year 2025 to the Enugu State House of Assembly.
Mbah presented the estimates titled “Budget of Exponential Growth and Inclusive Prosperity” on the floor of the House on Tuesday, stating that the proposed estimates included N837.9 billion in capital expenditure, which accounted for 86% of the budget, and N133.1 billion in recurring expenditure, which accounted for only 14% of the budget.
This surpasses the previous record-holding 2024 budget of N521.5 billion, which included N414.3 billion in capital expenditure, accounting for 79% of the overall budget, and N107.2 billion in recurring expenditure, accounting for around 21%.
However, similar to the 2024 budget, the 2025 budget proposal emphasizes significant investment in education as well as basic but critical infrastructure and amenities such as roads and bridges, water supply, transportation services, energy, modernization and digitization of public services and associated processes, with the Education sector receiving the lion’s share of N320.6 billion, accounting for more than 33% of the total budget for two consecutive years.
Mbah stated that this was consistent with his administration’s goal of eliminating poverty and implementing an inclusive development approach that assures no one or part of society is left behind.
The governor also announced that the state’s Internally Generated Revenue, or IGR, would increase from N37.4 billion at the end of 2023 to N144.7 billion in September 2024, representing a radical 286.2 percent increase in line with the administration’s deliberate effort to wean the state off FAAC allocations.
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cc: Daily Post Ng
