The Enugu State Government has announced that it will allocate 42.8 billion nairas for investment in the state budget for 2018 to improve infrastructure and equipment. Finance and Economic Development Commissioner Eucharia Offor made this clear when allocating the 2018 budget to Enugu on Thursday. Governor Ifeanyi Ugwuanyi recently signed the state budget of N103.56 billion, dubbed "Budget for Sustainable Economic Growth". She also said recurring expenses for 2018 were higher than 2017, or $ 55.2 billion. Investment expenditure of N 41.8 billion, or 41.4%, was also lower than in 2017 (N50.52).
On sector allocation, the commissioner said that economic sector would gulp N24.16 billion; social sector, N13.79 billion; administrative sector, N3.5; law and justice sector, N1.2 billion; and regional sector, N152 million.
On the recurrent expenditure, she noted that personnel cost would gulp N37.5 billion; overhead, N17.23billion and subvention N5.98 billion.
The commissioner said that the 2018 budget had been predicated on a recurrent revenue of N89 billion.
She said that N51.06 billion would come Federation Accounts Allocation Committee, N30 billion from independent revenue and 50 per cent or N8 billion from Refund from Paris and London Clubs.
Offor said: “The recurrent revenue for the 2018 fiscal year of N89 billion, is higher than that of 2017, which stood at N71.37 billion; thus, showing an increase of 24.79 per cent.’’
On the state’s Internally Generated Revenue, the commissioner said that the state would use improved Information and Communication Technology and e-payment platforms to achieve its target of N2 billion monthly IGR for 2018.
She said: “The state government will expand the revenue base of the state by upgrading ICT infrastructure to bring all revenue generating Ministries, Department and Agencies into one platform as well as reviewing and updating relevant laws.
“This will support a robust and transparent revenue administration to realize our target of N2 billion monthly IGR.Räägi sõbrale... #AFRICA ... spill TEA ABOUT THE TOPIC ABOVE.... Easy on Shade #jaiyeorie
On the recurrent expenditure, she noted that personnel cost would gulp N37.5 billion; overhead, N17.23billion and subvention N5.98 billion.
The commissioner said that the 2018 budget had been predicated on a recurrent revenue of N89 billion.
She said that N51.06 billion would come Federation Accounts Allocation Committee, N30 billion from independent revenue and 50 per cent or N8 billion from Refund from Paris and London Clubs.
Offor said: “The recurrent revenue for the 2018 fiscal year of N89 billion, is higher than that of 2017, which stood at N71.37 billion; thus, showing an increase of 24.79 per cent.’’
On the state’s Internally Generated Revenue, the commissioner said that the state would use improved Information and Communication Technology and e-payment platforms to achieve its target of N2 billion monthly IGR for 2018.
She said: “The state government will expand the revenue base of the state by upgrading ICT infrastructure to bring all revenue generating Ministries, Department and Agencies into one platform as well as reviewing and updating relevant laws.
“This will support a robust and transparent revenue administration to realize our target of N2 billion monthly IGR.Räägi sõbrale... #AFRICA ... spill TEA ABOUT THE TOPIC ABOVE.... Easy on Shade #jaiyeorie
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