Edo Assembly raises 2020 budget estimate by N1.6 bn

Edo Assembly raises 2020 budget estimate by N1.6 bn

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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.

EDO STATE HOUSE OF ASSEMBLY COMPLEX

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. 

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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.  

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