Edo State Governor, Godwin Obaseki, has signed the state’s 2021 Appropriation Bill pegged at N164.7bn into law after the bill was passed by the Edo State House of Assembly.
Obaseki said the budget named, ‘Making Edo Great Again Budget’ is anchored on economic recovery amid the coronavirus pandemic.
The governor, who signed the budget at the Exco Chambers in Government House, Benin City on Wednesday, said his administration prioritised recurrent expenditure in the budget.
He said, “The Assembly earlier approved that the state goes to the market to raise money and finance a part of the budget. We have successfully closed a N25 billion 5-year bond at a record price of nine per cent. The resources will be available to commence the funding of this budget.
“We are working on improving tax collection to enable us to have all the resources needed to finance this appropriation act. We are cutting down on waste to grow Edo economy in the right direction.”
Obaseki commended the leadership and members of the Edo State House of Assembly for the prompt attention given to the bill and its speedy passage.
Presenting the budget estimates, Speaker, Edo State House of Assembly, Marcus Onobun, noted that the Assembly deemed it fit to review the estimates upwards from the initial 153.4bn.
Onobun said the budget passage was prompt and speedy to ensure that the government continues delivering the dividends of democracy to the people.