Governor Adams Oshiomhole of Edo State has presented the state’s 2016 budget of N111.5 billion to the state House of Assembly for consideration and approval.
Tagged “Budget of Finishing Well” the 2016 budget is 12.6 percent lower than the 2015 budget which was revised downward to N127.01 billion due to economic realities.
Presenting the budget, the governor said: “The reduction is in line with current economic realities, especially developments in the international oil market and the dwindling inflows from the Federation Account.”
He said that the policy focus of the Year 2016 Budget was the completion or near completion of on-going road construction/rehabilitation projects across the state, noting that roads at various stages of completion would be accorded priority.
Capital expenditure will take N58.9 billion representing 52.84 percent of the total budget, while the proposed recurrent expenditure is N52.6 billion, representing 47.16 percent of the budget.
A breakdown of the budget shows that education and health sub-sectors took the lion share with N14 billion each followed by roads infrastructure at N9.24 billion and flood and erosion control at N8 billion.
The governor assured people of the state that “In the 2016 fiscal year, efforts would be geared towards substantial completion of all the outstanding storm water projects across the state, the completion of the Auchi, Queen Ede and Ekekhuan gully erosion remediation projects, substantial completion of all current streetlight projects and institutionalization of the process of maintenance of all built infrastructure, streetlights, drains, among others.
“This administration is currently working on the designs for the following seven gully erosion sites approved: Ibore, Ewu, Emu, Ogiso/Osunde, Ambrose Alli University, AAU, and Auchi Agenebode Road gully erosion sites,” the governor said. Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com