Share this:

Like this:

Like Loading...
" />
Published On: Fri, Dec 6th, 2019

Edo Assembly raises Obaseki budget estimate by N1.6 bn

Share This
Tags

By Osaigbovo Iguobaro, Benin

Edo House of Assembly on Wednesday passed the State 2020 Appropriation Bill of N179.2 billion.
The N177.6 billion budget estimate which was presented by Governor Godwin Obaseki on November 13, 2019 to the lawmakers for consideration, was increased to the tune of N1.6 billion, bringing the total estimate to N177.6.
The increment, according to the Speaker of the House of Assembly, is to enable government to complete all ongoing projects in the State.
He said money would be sourced from anticipated internally generated revenue (IGR) of the State.
The approval, followed a motion by the House Leader, Mr Roland Asoro and seconded by Mr Ephraim Aluebhosele, member representing Igueben at the plenary in Benin.
A breakdown of the budget indicated that capital expenditure was put at N92.6 billion, while recurrent expenditure stood at N86.5 billion.
Meanwhile, the House has approved N3.5 billion loan from the Bank of Industry (BOI) for the state government to purchase fleets of buses for the Edo City Transport Service (ECTS).
The request was contained in a letter singed by the Secretary to the State government, Osarodion Ogie to the house for consideration.
Leading the debate for the approval, the house leader, Roland Asoro said the purchase of the fleets of buses would further create jobs and ease transportation system in the State.
Other lawmakers unanimously supported the approval of the governor’s request and the house thereafter in a voice vote approved the governor’s request to access the loan facility.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

%d bloggers like this: