Oshiomhole seeks approval to spend N157bn in 2015

By Osaigbovo Iguobaro, Benin

Edo state Governor, Adams Oshiomhole, yesterday presented the 2015 appropriation Bill to the Progressives Congress (APC) led House of Assembly for consideration, with a pledge on prudent management  of the state resources.

The estimated budget proposal of N156.551 billion consists of N 87.56 billion as Capital Expenditure representing 55.77% of the total budget. N 68.99 billion is for Recurrent Expenditure which represents 44.23% of the total budget.

 Speaking during the presentation of the budget at the `old Assembly chamber, Government House tagged: “budget  of consolidation, the Governor pegged the total estimated revenue  at N117.81 billion, while estimated expenditure including debt service      is  N 68.99 billion/ N 87.56 billion is for Capital Projects.

The Budget Support (World Bank)     was pegged at N13.67 billion,  while N17.05 billion is for Gap Filling (Domestic). The sum of N 18.1 billion for the Education sub-sector in the 2015 financial year.

 According to the Governor who briefed the Lawmakers on the 2014 budget performance, promised to rijig the Internally Generated Revenue (IGR), complete ongoing, map-out new projects and create over 150,000 new jobs over the next two (2) years of this Government, through this initiative.

He listed Flood and Erosion Control/Environmental Protection, provision of over 100, 000 low cost housing estate,  Health and agricultural sectors as urgent areas of intervention in the budget.

“We are committed to providing affordable housing for our people. To this end, government intends to partner with real estate developers and financiers (within the PPP framework) to facilitate the delivery of mass housing across the 3 senatorial districts. Already, an initiative is afoot towards delivering not less than 100,000 housing units of various specifications over the next three years’’, he said.