Edo House of Assembly has proposed an increase in the 2020 Appropriation Bill to the tune of N179.2 billion.
The sum of N1.6 billion, was added to the budget size of N177.6 billion budget estimate that was presented by Governor Godwin Obaseki to the legislature on November 13, 2019, bringing the total amount to N179.2 billion.
The N1.6 billion would be sourced from anticipated Internally Generated Revenue (IGR) for the completion of all ongoing projects, according to the Speaker of the House of Assembly, Mr Frank Okiye.
Before the 2020 appropriation bill was passed on Wednesday, Okiye said, the money (N1.6 billion) would be sourced from anticipated internally generated revenue (IGR) of the State.
The approval, followed a motion by the House Leader, Mr Roland Asoro and seconded by Mr Ephraim Aluebhosele, member representing Igueben at the plenary in Benin.
A breakdown of the budget indicated that capital expenditure was put at N92.6 billion, while recurrent expenditure stood at N86.5 billion.
Meanwhile, the House has approved N3.5 billion loan from the Bank of Industry (BOI) for the state government to purchase fleets of buses for the Edo City Transport Service(ECTS)
The request was contained in a letter singed by the Secretary to the State government, Osarodion Ogie to the house for consideration.
Leading the debate for the approval, the house leader, Roland Asoro, said the purchase of the fleets of buses would further create jobs and ease transportation system in the State.
Other lawmakers unanimously supported the approval of the governor’s request and the house thereafter in a voice vote approved the governor’s request to access the loan facility.
40 total views
Leave a Comment
Your email address will not be published. Required fields are marked with *