Enugu generated
N43.9 billion internally and their statutory allocations from the federation
Account is 57.9billion.
According to the state’s
first quarter Budget performance report, it’s spending was directed towards infrastructure, education and healthcare reflecting a push to convert rising
revenues into development outcomes.
Below shows the breakdown
of capital and administrative spending. It was infrastructure dominated
expenditure.
a. Ministry of works & infrastructure
accounted
for N23.93 billion in spending.
b The office of Accountant general
recorded N5.33 billion
c. ENSUBEB
received N4.55 billion
d.Head
of service and primary Health care development agency received N3.34 billion and
N1.79 billion
The above data suggests
moderate recurrent spending.
The Governor maintained
that his projected N870 billion internally generated revenue was realistic and
achievable with discipline, creativity and sustained hardwork.
“Our 870 billion IGR
target is realizable. We have grown IGR from below N30 billion In 2023 to over
180 billion in 2024, 400 billion in 2025, 800 billion in 2026. We believe that
unlocking of different streams of economic potentials in Enugu state will
realize the domestic revenue projection”
Enugu records strong
double digit growth as its debt rose to N157.60
billion representing a 32.12% increase from 119.28 billion in 2021.
The increased debt ranking
of the state suggests heavy reliance on borrowing to fund infrastructure and
social investments, in addition there is widening
fiscal gaps and expansion in capital expenditure
Read more Enugu's Revenue Growth meets Rising Debt: Strategic Expansion or Fiscal Pressure?
No comments:
Post a Comment