Governor Peter Mbah of Enugu State has presented a record-breaking ₦971 billion budget proposal for 2025 to the State House of Assembly, prioritizing capital expenditure and significant investment in education and infrastructure.
Key Budget Details
- Budget Title: “Budget of Exponential Growth and Inclusive Prosperity”
- Capital Expenditure: ₦837.9 billion (86% of total budget).
- Recurrent Expenditure: ₦133.1 billion (14% of total budget).
- Education Sector Allocation: ₦320.6 billion, accounting for over 33% of the budget.
- Economic Sector Allocation: ₦462 billion, 55.1% of capital expenditure.
This budget represents an 86.4% increase from the ₦521.5 billion budget for 2024.
The projected revenue of ₦692.2 billion will be sourced from:
- Internally Generated Revenue (IGR): ₦509.9 billion (286.2% growth from ₦37.4 billion in 2023).
- Statutory Revenue: ₦48.7 billion.
- Value Added Tax (VAT): ₦74.9 billion.
- External and Internal Aids/Grants: ₦15 billion.
- Domestic Borrowings: ₦55 billion.
- International Loans: ₦128.5 billion.
Governor Mbah emphasized that the budget is aimed at eradicating poverty and fostering inclusive development:
- Education: Continues to receive the largest share to build a knowledge-based economy.
- Infrastructure: Investments in roads, transportation, and water supply.
- Health and Agriculture: Allocations aimed at enhancing service delivery and boosting economic productivity.
- Innovation and Public Services: Modernization and digitization efforts to attract private investment.
“We aim to elevate Enugu State to a top-three status in terms of GDP and eradicate poverty,” Mbah stated.
He also noted the importance of subnational efforts driving sustainable national growth, emphasizing Enugu’s deliberate steps to reduce dependency on federal allocations.
This ambitious proposal sets the stage for transformative projects and reflects the administration’s commitment to economic growth and inclusive prosperity.
