Enugu State Governor, Peter Mbah, has revealed that the state is set to generate N300 billion from its internally generated revenue out of the total N521.5 billion 2024 budget.
This announcement was made during the signing of the budget into law at the Enugu State House of Assembly.
In an official statement released by Senior Special Adviser on Media to Gov. Mbah, Dan Nwomeh, the governor emphasized the significance of relying on domestic sources for funding, stating, “We are talking about less than 12% of our revenue size that we are going to borrow to execute this budget. That is enormous as we are expecting to mobilize over N300bn from our domestic sources, and that has not happened before.”
Mbah highlighted the focus on revenue performance within the Executive Council, stating, “It also means that for us at the Executive Council, our meetings would largely be on our revenue performance.”
The governor expressed optimism that the 2024 budget would lead to disruptive economic growth, radical infrastructural development, and efficient service delivery in the state.
He allocated N414.3 billion, which represents 79% of the budget, to capital projects.
Mbah detailed some major capital projects, including the construction of 260 smart schools and 260 Type-2 primary healthcare centers across the state, as well as the building of the New Enugu City and paving feeder and access roads.
“This budget signing means 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,” Mbah stated.
The governor also emphasized the positive impact of the budget on poverty reduction, economic activities, and the improvement of social services in Enugu State.
