Enugu State Governor Proposes Record N971bn Budget for 2025
Key Highlights
- Recurrent Expenditure crashes further to 14% at N133.1bn.
- Capital Expenditure rises to N837.9bn.
- Education gets over 33% of budget.
- Internally Generated Revenue (IGR) jumps from N37.4bn to N144.7bn in 2024.
- House of Assembly promises early passage.
Governor of Enugu State, Dr. Peter Mbah, has proposed a record N971bn budget bill for the 2025 fiscal year to the Enugu State House of Assembly.
Budget Breakdown
Presenting the estimates titled “Budget of Exponential Growth and Inclusive Prosperity”, Mbah disclosed that:
- Capital Expenditure: N837.9bn (86% of the budget).
- Recurrent Expenditure: N133.1bn (14% of the budget).
The 2025 proposal surpasses the 2024 budget of N521.5bn, which comprised N414.3bn for Capital Expenditure (79%) and N107.2bn for Recurrent Expenditure (21%).
Sectoral Allocations
Education: N320.6bn (over 33% of the total budget), reflecting the state’s commitment to poverty eradication and a knowledge-based economy.
Health: N45.8bn to improve healthcare infrastructure.
Infrastructure & Roads: N213.1bn for ongoing and new projects.
Agriculture: N82.3bn to combat food inflation.
Transport: N41.1bn to expand Enugu Air, acquire four additional aircraft, and modernize transportation.
Revenue Growth and Funding Sources
The state’s IGR has seen a radical increase from N37.4bn in 2023 to N144.7bn in September 2024, with expectations to surpass N200bn by year-end.
Funding sources for the budget include:
- Internally Generated Revenue (IGR): N509.9bn
- Statutory Revenue: N48.7bn
- VAT: N74.9bn
- Domestic and International Loans/Borrowings: N183.5bn
- External & Internal Aids/Grants: N15bn
2024 Budget Performance
As of October 2024, total revenue realization stood at N459.85bn, achieving an 88% budget performance. Internally Generated Revenue alone accounted for N144.7bn.
House of Assembly’s Commitment
The Speaker of the State Assembly, Hon. Uchenna Ugwu, assured swift passage of the budget to ensure continued development strides.
“Because you have demonstrated enormous capacity and potential to transform our state’s economy, the House of Assembly shall expeditiously consider this and provide the legal framework for its implementation,” Ugwu stated.
