Economy

Gov. Ugwuanyi Approves 2018 Budget of N103.5bn

Byjorjapaxson3737

PublishedFebruary 19, 2018

Gov. Ifeanyi Ugwuanyi, the Enugu State governor on Monday signed the 2018 budget of N103.5 billion into law.

Signing the document in Enugu, Ugwuanyi reiterated his administration’s preparedness to deliver good governance and harness and effectively make use of the potential in the state.

The governor, however, expressed his commitment to ensuring the full, prompt and profficient implementation of the budget.

Earlier, the Speaker of the State House of Assembly, Mr. Edward Ubosi, said that the legislators had after wide consultation and robust debate jerked up the budget estimate.

Ubosi said that the increase became necessary in order to accommodate the various road projects in the state that needed urgent attention.

He said that the budget was realistic and accommodated the pressing needs of the state.

The speaker said that the 2018 budget reduced external and internal borrowings of the state by 60 per cent and would not drag the state into any form of indebtedness.

Ubosi said that the gains of the 2018 budget had demonstrated that the State Board of Internal Revenue was up to its responsibilities.

“We are happy with the way the revenue board is working to reduce stress from the government but they should not put hardship on our people,” he said.

He commended the governor for the prudent management of the state’s resources.

The News Agency of Nigeria reports the governor had on December 28, 2017, presented a budget estimate of N98.5 billion to the state assembly.

The budget was passed on February 12.