A N153.4 billion budget proposal was submitted to the Edo State House of Assembly by the Edo State Governor, Mr. Godwin Obaseki, for the 2021 fiscal year, reflecting a 9.7 percent increase from the revised 2020 budget.
The budget consists of N94.8 billion for recurring and N58.6 billion for capital expenditure, said Obaseki, who presented the budget to the Assembly sitting at the old Legislative Chambers in Government House, Benin City.
The governor claimed that the ‘Make Edo Great Again (MEGA) Budget’ document is exclusively focused on reacting rigorously to the misalignments caused by the coronavirus pandemic while developing a superior workforce.
According to him, the projected operational expenditure of N94.8 billion for the fiscal year 2021 reflects a rise of 24 percent from the N76.6 billion currently expected for the fiscal year 2020.
“The key cause of this rise is the increase in wage payment allocations and pension payments to cater to new recruits resulting from the current civil service reform programme.”
Governor Obaseki also said that the 2021 fiscal year’s impact areas include N20.8 billion in education; N6.1 billion in human resources and civil service reforms; N12.8 billion in pensions and gratuities; N1 billion in contributions to the State Health Insurance Scheme; N10.3 billion in the health sector and N9 billion in physical, urban and regional planning.
Highlighting that the budget will address the problems facing critical sectors of the economy, the Governor said that the 2021 budget is geared towards improving the national health system across the board, maintaining gains in the education and social sectors, providing the requisite stimulus to improve food security, promoting the poor and vulnerable in society, and actively engaging young people.
“It is important to remember that these tailored investments are focused on the most valued resources of the state (its individuals).
As a nation, “we firmly believe that we must first boast of a thriving, capable population, particularly young people, pummeled by the right structures to sustain their life and livelihoods, in order to genuinely create and maintain a vibrant and productive state.
“We have been able to transition to e-learning using the EdoBEST@Home platform because of the reforms we have started through the Edo Basic Education Sector Transformation (EdoBEST) program”.
“I am happy to announce you that the Edo Oil Palm Project, which we have collaborated with the Central Bank of Nigeria ( CBN), has started allocating more than 40,000 hectares of land to six companies for cultivation.
Meanwhile responding after receiving the 2021 budget proposal, Speaker of the Assembly, Rt. Hon. Marcus Onobun, commended Governor Obaseki for prioritizing the welfare of Edo people.
He assured him of the house maximum cooperation alongside him in making Edo great again.
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