Umahi presents N122. 852bn budget for 2021

TRACKING____Ebonyi State Governor, Chief Dave Umahi yesterday presented a budget estimate of N122.852 billion to the State House of Assembly for the 2021 fiscal year.

The appropriation bill, tagged “Budget of Stabilization and Consolidation in a Recession” is expected to be funded through the Federation Account estimated at about N52billion or 42.33% of the budget.

Umahi noted that the state would be projecting to increase the Internally Generated Revenue from projected N10, 569, 074, 353.56 in 2020 budget to N12, 858, 297, 657.83 or 10.47% of our total expected revenue, saying in 2020, the state projected an actual revenue receipts by December 31st, 2020 at N122,138,799,059.13 which is 92.53% performance.

Umahi said: “Mr. Speaker let me with humility announce that the “Budget is tagged Budget of Stabilization and Consolidation in a Recession” which stands at the sum of N122, 852, 045, 222.49.

“Our major revenue is expected to come from Federation Account estimated at about N52bn or 42.33% of the budget.

Other revenue heads like Internally Generated Revenue, sales of international market stores, land proceeds, sales of malls, other receipts etc will account for the balance of N57.994bn or 47.53% of total budget.

“We are therefore staying on side of what is possible by our 2021 budget of N122, 852, 045, 222.49 which is just 0.6% higher than our projected 2020 budget performance.

“We intend to reach out to about 250 persons with best proposals per Local Government Area with N1m per person (per business). We encourage the Ministry to partner with Bank of Industry to increase the participants’ scope of businesses and capital involved.

“With expected 80% success of this program. We believe that Ebonyi will be more focused on business than in politics. T

his programme is non-political.” Meanwhile, seven of the eight members’ pro-PDP were absent during the budget presentation save Humphery Nwuruku of Ikwo North constituency in attendance.

They were Chris Usulor, Ezza South constituency, Okechukwu Ali, Ishielu North constituency, Ngozi Eziulo, Afikpo North East constituency, Oliver Osi, Ivo constituency, Franca Okpo, Abakaliki North constituency, Chidi Ejem, Afikpo South East constituency and Victor Aleke, Ebonyi North West Constituency