Governor Peter Mbah of Enugu State has presented a proposed budget of N971 billion for the 2025 fiscal year to the State House of Assembly.
Dubbed the “Budget of Exponential Growth and Inclusive Prosperity,” the proposal emphasizes transformative capital investments aimed at propelling the state’s development.
Key Highlights of the 2025 Budget:
- Capital Expenditure: N837.9 billion (86% of total budget)
- Recurrent Expenditure: N133.1 billion (14% of total budget)
- Total Increase: 86.4% rise from the 2024 budget of N521.5 billion
Sectoral Priorities:
Education
- Allocation: N320.6 billion (33% of total budget)
- Rationale: Supporting Governor Mbah’s vision to eradicate poverty and foster inclusive development.
Infrastructure and Transport
- Roads and Bridges: N213.1 billion
- Transport Modernization: N41.1 billion, including the expansion of Enugu Air and acquisition of four aircraft, alongside airport concessioning and construction of a cargo terminal.
Healthcare
Allocation: N45.8 billion to enhance access to quality medical services.
Agriculture and Agro-industrialization
Allocation: N82.3 billion to combat food inflation and boost local production.
Revenue Projections:
The 2025 budget will be primarily funded through:
- Internally Generated Revenue (IGR): N509.9 billion
- Statutory Revenue: N48.7 billion
- Value Added Tax (VAT): N74.9 billion
- Other sources, including exchange rate differentials and opening balances.
Other sources, including exchange rate differentials and opening balances.
Governor Mbah noted a significant increase in the state’s IGR, which rose from N37.4 billion in 2023 to N144.7 billion by September 2024, a 286% growth. This underscores the administration’s effort to reduce dependence on federal allocations.
Vision for the Future
Governor Mbah reaffirmed his administration’s commitment to transforming Enugu into one of the top three states in Nigeria by GDP. “We are resolute in our mission to lay a solid foundation for sustained growth, attract private investment, and eradicate poverty,” he said.
Legislative Support
Speaker of the Enugu State House of Assembly, Hon. Uchenna Ugwu, assured prompt approval of the budget. He praised the governor’s developmental strides and emphasized the Assembly’s commitment to supporting the administration’s goals.
Conclusion
The 2025 budget positions Enugu State for substantial economic and social advancements, with education, infrastructure, and agriculture at its core. The proposed investments align with the state’s long-term development strategy to achieve inclusive prosperity.
