On Thursday, the Enugu State House of Assembly officially approved the 2024 budget estimate, amounting to N521,561,386,000.
Following the screening of the budget estimate on the House floor, Hon. Anthony Nwankwo, Chairman of the House Committee on Appropriation, presented the flawless report, urging the parliament to accept and pass it into law.
Members of the House lauded Governor Peter Mbah for leading a significant shift in the recurrent and capital expenditure ratio in budgeting. They commended the uncommon emphasis on capital expenditure, totaling N414,334,120,000, representing over 79% of the entire budget. They anticipated that this focus would result in noteworthy infrastructural development in the state.
Consequently, the House unanimously passed the bill into law.
In response to the bill’s passage, Speaker Hon. Uchenna Ugwu emphasized that the House’s role was not concluded, as robust oversight would be undertaken to ensure the law’s full implementation in the interest of the masses. He highlighted the budget’s significance, named the “Budget of Disruptive Economic Growth,” with 79% allocated to capital expenditure and 21% to recurrent expenditure. Ugwu urged the executive to diligently implement the budget, assuring the public of the Assembly’s commitment to serious oversight.
He stated, “It is not going to be business as usual. We are going to ensure that every fund we have appropriated is put to judicious use.” Ugwu also expressed gratitude to Governor Peter Mbah for contributing to the state’s economic well-being.
It is worth noting that Governor Mbah had presented the budget estimate of N521.5bn on December 5, setting a historic record as the highest budget in the state’s history. The House of Assembly had pledged swift consideration to facilitate growth and development in the state.