The Enugu State Governor, Peter Mbah, has stated that the state is going to generate N300 billion of its N521.5 billion budget for 2024 through internally generated revenue.
Gov. Mbah made this announcement while signing the N521.5 billion Enugu State 2024 budget into law on Wednesday at the Enugu State House of Assembly.
This is stated in an official statement issued by Gov. Mbah’s Senior Special Adviser on Media, Dan Nwomeh’s official X handle.
“We’re talking about borrowing less than 12% of our revenue size to carry out this budget. That is enormous, as we expect to mobilize over N300bn from our domestic sources, and that has not happened before.
The governor stated that the Enugu State budget for 2024 would result in disruptive economic growth, radical infrastructure development, and efficient service delivery, according to the release.
He allocated N414.3 billion, or 79% of the budget, to capital projects in the Enugu State 2024 Appropriation Law.
Governor Mbah stated that the projected budget for capital projects for 2024 is 20 times greater than what the state has traditionally spent on capital expenditure since its foundation.
He highlighted the construction of 260 smart schools and 260 Type-2 basic healthcare centers throughout the state as some of the major capital projects to be embarked upon in Enugu in 2024.
Furthermore, the governor stated that the construction of New Enugu City and the paving of feeder and access roads around the state are among the infrastructure projects that the Enugu State government will begin in 2024.
“Based on the size of our Capital Expenditure, we called this the ‘Budget of Disruptive Economic Growth. It also implies that Enugu State will experience significant economic activity.
“Imagine an economy that is used to doing N20 billion in capital expenditure now seeing over N400 billion in capital expenditure. It will be huge in terms of lifting our people out of poverty and stimulating economic activity.”
He also claimed that the passing of this measure into law in the education sector implies that “we can now look forward to 260 smart schools across the state.
“It also means that we will have 260 Type-2 primary healthcare centers across all of Enugu State’s wards.
“We intend to build New Enugu City. Our roads are going to be paved. We plan to pave feeder roads as well as access roads to our farmlands.”
The signing into law of this budget today will ensure that we grow our agriculture so that it is not going to be just for food, it is also going to be for export.
