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The executive Governor of Enugu State, Peter Mbah on Tuesday presented a 2025 budget proposal of ₦971 billion to the State House of Assembly.
Presenting the budget, tagged, “Budget of Exponential Growth and Inclusive Prosperity”, Mbah highlighted that the proposal represents a significant leap from the 2024 budget of ₦521.5 billion, reflecting an increase of 86.4%.
The Governor described the proposal as a strategic move to enable private investment, eradicate poverty, and elevate the state’s economy.
The budget comprises ₦837.9 billion for capital expenditure, representing 86%, and ₦133.1 billion for recurrent expenditure, accounting for 14%.
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The governor also announced a dramatic increase in the state’s Internally Generated Revenue (IGR), which rose from ₦37.4 billion in 2023 to ₦144.7 billion by September 2024, marking a 286.2% growth.
Giving credit for the growth to deliberate measures to reduce reliance on federal allocations, Mbah expressed confidence that the IGR would surpass ₦200 billion by the end of 2024.
The capital expenditure will be funded through a ₦559 billion transfer from the Consolidated Revenue Fund and ₦278.9 billion in capital receipts from external aid, grants, and loans.
The Speaker of the State Assembly, Hon. Uchenna Ugwu, commended Mbah’s leadership and assured the governor of the swift passage of the budget.
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