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Reading: Governor Adams Oshiomhole Presents N111.5bn ‘Budget of Finishing Well’ For 2016 Fiscal Year
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© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Governor Adams Oshiomhole Presents N111.5bn ‘Budget of Finishing Well’ For 2016 Fiscal Year

Farouk Mohammed
By Farouk Mohammed
Published: December 15, 2015
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Edo State Governor Adams Oshiomhole has presented the 2016 budget proposal of N111.5 billion to the House of Assembly.

Tagged: Budget of Finishing Well, the 2016 budget proposal is 12.6 per cent lower than this year’s budget, which was revised downward to N127.01 billion.

Oshiomhole said the “reduction is in line with the economic realities, especially developments in the international oil market and dwindling inflows from the Federation Account”.

The governor said the policy focus of next year’s budget proposal is the completion or near completion of roads and rehabilitation projects.

He said roads would be given priority next year.

Oshiomhole said Capital Expenditure would take N58.9 billion, representing 52.84 per cent, while the proposed Recurrent Expenditure is N52.6 billion, representing 47.16 per cent.

A breakdown of the budget shows that Education and Health take the lion’s share of N14 billion each, followed by Road Infrastructure, N9.24 billion and Flood and Erosion Control, N8 billion.

Oshiomhole said: “This administration is working on the designs for the following seven gully erosion sites: Ibore, Ewu, Emu, Ogiso/Osunde, Ambrose Alli University (AAU) and Auchi Agenebode Road gully erosion sites.

“The designs of flood and erosion control structures for Gapiona/Adesuwa Grammar School Road to de-flood the Western part of the Benin GRA, covering about nine square kilometres, is at advanced stage. Also, designs for Urora community in Benin and Igbe Quarters in Auchi are being carried out.”

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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