Categories: States' budget

Enugu State Govt reviews 2020 Budget from N169bn to 146bn

By Nicholas Obisike
Enugu, July 28, 2020 The Enugu State Government has proposed r downward review of the 2020 budget from N169.5 billion to N146.4 billion due to the COVID-19 pandemic.

Newsmen reports that the difference represents 13.67 per cent.

The state Commissioner for Budget and Planning, Dr. David Ugwunta made this known during the budget review in Enugu on Tuesday.

Ugwunta said that the recurrent revenue was reduced from N100.8 billion to N99.536 billion.

He stated that the recurrent expenditure was previously N68.790 billion before the review but was slightly increased to N69.790 billion which represented 1.45 per cent.

”On the capital expenditure, there is reduction from N100.767 billion to N76. 584 million at 24 per cent.

”In all, the state budget size before the review was N169.557 billion but reduced to N146, 584 billion at 13.67 percent,” he said.

Declaring the review open, the State Deputy Governor, Mrs Cecilia Ezeilo, explained that the downward review of the 2020 budget was due to the downfall of the country’s economy caused by the coronavirus pandemic,” she said.

Ezeilo urged the participants to contribute to the review of the budget as they were mostly the targeted audience.

Also speaking, the Permanent Secretary, Ministry of Budget and Planning, Mr Casmir Ugwu noted that the state achieved a lot in 2019 despite distractions from political activities.

Ugwu posited that 2020 budget needed to be reviewed owing to the challenges facing the state and the country at large.

”This year has been hampered by the ravaging pandemic known as Coronavirus.
”It hit the nation’s economy hard and this is because the oil which is the largest economic base of the country went down,” Ugwu said.

He noted that the state had achieved a lot in the midst of the pandemic and the economic downturn.

Naija247news Media, New York

Naija247news.com is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share
Published by
Naija247news Media, New York

Recent Posts

Nigeria Stock Exchange opens week with 0.04% loss

By Chinyere Joel-Nwokeoma Lagos, Nov. 23, 2020 The domestic equities market on Monday extended its…

12 mins ago

Naira depreciates marginally to dollar at parallel market

By Fabian Ekeruche Lagos, Nov. 23, 2020 The Naira lost marginally to the dollar at…

23 mins ago

Seme customs intercept 24 tokunbo vehicles, 1716 bags of rice, others in 7 weeks

By Raji Rasak Seme (Lagos State), Nov.23, 2020 (NAN) The Seme Command of the Nigeria…

32 mins ago

NEPC, MDAs working to clear N124bn backlog of export claims – Director

By Emmanuella Anokam Abuja, Nov. 22, 2020 The Nigerian Export Promotion Council (NEPC) says it…

36 mins ago

Katsina State Govt. disburses N2bn loan to traders, small businesses

By Zubairu Idris Katsina, Nov. 22, 2020 The Katsina State Government says it has disbursed…

53 mins ago

UAE to increase oil output to 5mbd by 2030 – Energy minister

Doha/Moscow, Nov. 23, 2020 The United Arab Emirates (UAE) says it is looking forward to…

2 hours ago