Governor Ugwuanyi presents N186.64bn 2022 budget to Enugu Assembly

On Dec 8, 2021

Governor Ifeanyi Ugwuanyi of Enugu State, on Tuesday, presented to the State House of Assembly, the 2022 Budget estimates of One Hundred and Eighty-Six Billion, Six Hundred and Thirty-Five Million, One Hundred and Thirty-Five Thousand, Seven Hundred and Seventy Naira(N186,635,135,770.00) for consideration and approval.

Presenting the budget proposal tagged: “Budget of “Sustained Growth and Consolidation”, Gov. Ugwuanyi disclosed that it “is 9.9% higher than our 2021 budget”, adding that out of the total budget size, the sum of N71,477,449,812.00, representing 38% of the total budget is for Recurrent Expenditure while the sum of N115,157,685,770.00 is for Capital Expenditure, representing 62% of the budget size.

The governor explained that the projections for the 2022 Budget of the state were founded on the economic and fiscal updates of “National Inflation Rate of 13%; National Real GDP Growth of 4.2%; Oil Production Benchmark of 1.88 million barrels per day; Oil Price Benchmark of $57 per barrel and Exchange Rate of N410.15 per US Dollar”.

Gov. Ugwuanyi hinted that the key deliverables of the 2022 Capital Budget include completion of all ongoing projects; purchase of 10 tractors and other agricultural equipment to assist mechanized farming in the state.

Gov. Ugwuanyi who revealed the desire of his administration to hit the ground running in the New Year, as it implements its last full year budget; added that the key deliverables of the 2022 budget proposal were also rehabilitation and upgrading of Recreational Parks, upgrading and improvement of Enugu Urban Water Supply and Distribution System through the AFD-funded 3^rd National Urban Water Sector Reform Project (3^rd NUWSRP) among others.

On 2021 budget performance, Gov. Ugwuanyi pointed out that the year started on a note of recovery as national and sub-national governments embarked on strategic economic engineering, through innovative economic policies, to reflate the Covid-beaten economy of the previous year.

Vanguard