Politics
Breaking: Enugu Unveils 2024 Budget Focused On Transformative Economic Advancement
With great honor and a profound sense of responsibility, I stand before this esteemed assembly today to present our state’s Multi-Year Budget for the period 2024-2026. This holds particular significance as it marks the first full-year budget of this administration, setting the tone for achieving our growth objectives…..CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

Not long ago, we presented the revised 2023 budget to this honorable House, and I express gratitude for your swift consideration. I now request a similar commitment as we delve into the current bill.
Our vision, to make Enugu one of Nigeria’s top three states in GDP and achieve zero percent poverty, guides this budget. We aim to boost private sector involvement, enhance education and healthcare, and maximize internal revenue generation.
Reflecting on our performance, the 2023 revised budget facilitated notable achievements, including launching an ultra-modern water scheme, awarding contracts for road construction, and expanding the National Cash Transfer Register.
The 2024-2026 Multi-Year Budget, named “Budget of Disruptive Economic Growth,” focuses on redefining our approach to basic education and infusing technology into public service. We aim for experiential learning in 260 Smart Model Basic Schools and an automated e-governance system.
Now, let me present a summary of the budget allocations:
– Total Budget: ₦521,561,386,000.00
– Recurrent Expenditure: ₦107,227,266,000.00
– Capital Expenditure: ₦414,334,120,000.00
Revenue estimates for 2024 are ₦383,789,000,000.00, with a focus on internal revenue generation, statutory revenue, and VAT.
The Recurrent Expenditure of ₦107,227,266,000.00 includes personnel costs, overhead costs, and consolidated revenue fund charges. Net Recurrent Revenue of ₦276,561,734,000.00 will be transferred to the Capital Development Fund.
Capital Expenditure of ₦414,334,120,000.00 will be funded by ₦276,561,734,000.00 from the Consolidated Revenue Fund and ₦137,772,386,000.00 from capital receipts.
Sectorial breakdown of Capital Expenditure:
– Administration Sector: ₦20,877,662,350
– Economic Sector: ₦207,837,753,513
– Law & Justice Sector: ₦1,225,643,490
– Regional Sector: ₦1,443,550,000
– Social Sector: ₦182,949,510,648
Key allocations include ₦134,587,982,647.78 for education, ₦21,777,421,000 for healthcare, ₦82,535,147,361.03 for infrastructure, ₦28,970,250,000 for water, and ₦25,184,154,671.81 for agriculture.
This budget prioritizes job creation, youth empowerment, and private sector investment. We commit to good governance, accountability, and prudent financial management.
To support fiscal initiatives, we will collaborate with security agencies, increase Public Private Partnership, expand the industrial base, and boost domestic revenue.
In conclusion, this Budget of Disruptive Economic Growth represents our collective effort to build a prosperous, inclusive, and resilient Enugu State. I call on all stakeholders to join hands for a brighter future.
Thank you, and God bless Enugu State. Wishing you a Merry Christmas and a Prosperous New Year. Our Tomorrow is here!
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