Governor Peter Mbah recently endorsed the Enugu State 2024 Budget, amounting to N521.5bn, emphasizing its potential to drive disruptive economic growth, radical infrastructural development, and efficient service delivery.
The Enugu State 2024 Appropriation Law allocates N414.3bn for Capital Expenditure, constituting 79% of the total budget, and N107.2 billion, representing 21% of the budget, with a significant reliance on Internally Generated Revenue (IGR).
The governor highlighted the emphasis on robust revenue mobilization and service delivery within the executive arm of government.
During the budget signing event, attended by members of the Enugu State House of Assembly, led by Speaker Hon. Uchenna Ugwu, as well as Commissioners and other government officials, Governor Mbah expressed gratitude for bipartisan support from the state legislature.
He credited the swift passage of the budget to collaborative efforts between the executive and legislative branches during the formulation of budget estimates, outlining the anticipated benefits from the 2024 budget.
“What this budget signing means to the people of Enugu is that we are going to be spending over N400bn on capital projects in the next year. This is the first time in the history of the state that we are spending that size of funds on capital projects because we are spending 20 times more than what has been typically our Capital Expenditure outlay in Enugu State.
“We called this the ‘Budget of Disruptive Economic Growth’ based on the size of our Capital Expenditure. It also means that we are going to have large economic activities in Enugu State. You can imagine an economy that is typically used to doing N20bn Capital Expenditure now going to witness over N400bn Capital Expenditure. It is going to be monumental in the ways our people are lifted out of poverty and in the ways economic activities will blossom.
