Ugwuanyi Presents N186.64bn 2022 Budget

Ugwuanyi Presents N186.64bn 2022 Budget

The Governor of Enugu State, Ifeanyi Ugwuanyi has presented a budget proposal of N186,635,135,770 for the 2022 fiscal year to the state House of Assembly for consideration and passage. Information Guide Nigeria

According to THIS DAY, the budget proposal has been tagged: “Budget of Sustained Growth and Consolidation”.

THIS DAY reports that Governor Ugwuanyi disclosed that the 2022 budget was 9.9 per cent higher than the 2021 budget which was N169.845 billion.

According to him, the budget will ensure the completion of all ongoing projects in the state.

The governor explained that out of the total budget size, the sum of N71,477,449,812.00, representing 38 per cent of the total budget is meant for Recurrent expenditure while the sum of N115,157,685,770.00, representing 62 per cent of the budget size will take care of capital expenditure.

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According to THIS DAY, he added that ”the projections for the 2022 Budget of the state were founded on the economic and fiscal updates of national inflation rate of 13 per cent; national real GDP growth of 4.2 per cent; oil production benchmark of 1.88 million barrels per day; oil price benchmark of $57 per barrel and exchange rate of N410.15 per United States dollar”.

The governor emphasised that using the 2021 budget, his administration made efforts to bring relief to Micro, Small and Medium Enterprises as well as engage fully in the preparatory activities for the Nigeria Covid-19 Action Recovery and Economic Stimulus (NG-CARES) Program for Results.

He said: “It was an initiative of the federal government of Nigeria supported by World Bank to mitigate the economic disruption occasioned by the COVID-19-19 Pandemic by protecting the livelihoods and food security of the poor and vulnerable families while facilitating the recovery of local economic activities in all the participating States”. Jamb Result 

Speaking, the speaker of Enugu State House Assembly, Hon. Edward Ubosi described the budget presentation by the governor as “a modest and realisable budget estimate” adding that the house would study the budget for subsequent approval and passage.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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