ESTIMATED COST of running government affairs in Edo State in 2019, has been put at N175bn. Godwin Obaseki, Governor of Edo State, presented the figure to the State House Of Assembly for scrutiny. He tagged it “Budget Of Socio-Economic Inclusion”.
The budget estimate is 9.2 per cent above the 2018 budget of N146 billion. It contains N95.8 billion capital expenditure and N79.9 billion for recurrent expenditure. Breakdown shows N42.7 billion allocated to infrastructure development, N9.3 billion for health, N26.8 billion for education and N7 billion for investment promotion.
The budget further shows N2 billion for security, N9 billion for payment of pension and N967 million for the judiciary ‘‘The 2019 budget will consolidate on infrastructural and socio-economic gains of the outgoing year 2018,’’ Governor Obaseki stated.
Obaseki said the budget has deficit of N27.4 billion. Government will fund the deficit by internal and external financial interventions from Central Bank of Nigeria, CBN, special programmes and World Bank. The budget was hinged on 60 dollars bench mark crude oil price and increased state internally generated revenue.