Edo State governor, Adams Oshiomhole, has presented the state’s 2016 budget of N111.5 billion to the state House of Assembly for consideration and approval.
According to Vanguard, the 2016 budget is 12.6 percent lower than the 2015 budget.
Oshiomhole stated that “the reduction is in line with current economic realities, especially developments in the international oil market and the dwindling inflows from the Federation Account.”
Here is a sneak peek at some of the allocations:
- 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 are areas where the most money is allocated, with N14 billion each
- Roads and infrastructure: N9.24 billion
- Flood and erosion control: N8 billion