BENIN --- Oshiomhole presents N157bn 2015 budget

Governor Adams Oshiomhole of Edo State has presented the state’s 2015 budget estimates of N157 billion to the state House of Assembly for approval. Christened ‘Budget of Developmental Consolidation’, Oshiomhole said the budget was aimed to take the state to the next level. Made up of N87.5 billion as capital expenditure, representing 55.77 per cent and N68.99 billion as recurrent expenditure, representing 44.23 per cent, the budget is N4 billion lower than the 2014 budget which stood at N160.1 billion. Governor Oshiomhole also said the budget was designed towards the completion of all ongoing projects, injection of new investments in key priority sectors of the administration, including roads construction and rehabilitation, education, health, water, rural elec
trification and environmental protection and drainage towards erosion control as well as beautification.
The governor said the budget would address projects for job creation particularly through economic empowerment with emphasis on micro-credit to small and medium scale enterprises; project for mass housing, expanding the revenue base, creation of an enabling environment for domestic and direct foreign investment and deepening of governance reforms.
On how the budget would be funded, Oshiomhole said: “We are aware that Edo State derives the bulk of its revenue from statutory allocation from the Federation Account for the funding of capital and recurrent expenditures. We will continue to sustain and redouble our efforts to y reduce our dependence on the Federation Account allocation by intensifying our internal revenue generation drive in the coming years.
“Accordingly, we envisage a significant boost to our IGR in 2015 while we will continue to leverage other domestic and external sources to fund projects that meet the state’s social and economic benefit cost and with positive cash flow to pay back. “In line with the global best practices, the budget was classified into four sectors including administration, which takes N17.873 billion recurrent and N4.031 billion capital; economic with N5.342 billion recurrent and N26.029 billion capital; law and justice with N2.955 billion recurrent and N0.837 billion capital and social with N20.173 billion recurrent and N46.665 billion capital.
“Flood, erosion control and environmental protection takes the lion share of the budget with N18.5 billion, followed by the education sector with N18.1 billion; roads takes N16.95 billion while N9.298 billion was allocated to the health sector.”
Expatiating on the health sector, Oshiomhole said: “Among the capital projects we have earmarked for 2015 are the completion of the construction and equipping of the new accident and emergency 200 beds complex of the Central Hospital, Benin City. Completion and furnishing of the second and third floor of the Block D of the New Secretarial Complex and ongoing renovation of hospital buildings at the General Hospital, Agenebode.”.
Speaking on roads infrastructure, Oshiomhole said: “A key priority of this administration is the completion and provision of good quality, well-drained and all-year motorable standard road infrastructure. Our target is to connect as many communities, villages and towns as possible to accelerate social and economic activities in the state.”