Edo budgets N111.5b for 2016

GOVERNOR Adams Oshiomhole of Edo State has presented the state’s 2016 budget of N111.5 billion to the House of Assembly for approval.

Tagged “Budget of Finishing Well,” the 2016 estimates are 12.6 per cent lower than the 2015 budget which was revised downward to N127.01 billion due to economic realities.

While presenting the appropriation bill to the lawmakers in Benin City, the governor said the “reduction is in line with current economic realities, especially developments in the international oil market and the dwindling inflows from the Federation Account.”

He noted that the policy focus of the budget was the completion or near completion of ongoing road construction/rehabilitation projects across the state, adding that roads at various stages of completion would be accorded priority.

Capital expenditure takes N58.9 billion representing 52.84 per cent of the total budget, while the proposed recurrent expenditure is N52.6 billion representing 47.16 per cent of the budget.