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Ebonyi State Budget for 2010 Fiscal Year
Ebonyi State Government to Spend Over Seventy Six Billion Naira in 2010 Fiscal Year
Ebonyi State government budgets to spend seventy six billion, two hundred and five million, one hundred and sixty seven thousand, and seven hundred and seventy naira (N76, 295, 167, 770) in 2010 fiscal year.
The State Commissioner for Finance and Economic Development, Barr., Timothy Odaah while breaking down the budget which had been approved by Ebonyi State House of Assembly and signed into law by the State Governor, Chief Martin Elechi said that the 2010 estimate was geared towards completing all on-going projects and launched into new other sectors to address the administration’s promises to the citizenry.
Barr. Odaah pointed out that thirty eight (38%) percent of the budget goes to recurrent expenditure while the remaining sixty two percent (62%) would fund capital development projects. For details of 2010 budget estimates in relation to the 2009 estimate, see table 1.
For details of 2010 major capital projects of Ebonyi State Government, see table 2.
For reviews of the performance of 2009 budget estimate, see table 3.
The State is expected to raise two billion (N2 billion) naira loan through bond issue within the fiscal year.
Barr. Odaah concluded the breakdown with a warning to the operators of the budget – “I advise all the operators of the budget, both the spenders and earnings as well as the producers and consumers, indeed, the entire economic class, to make “economy” their watchword.
For inquiries, please call 08035804828.
Table 1
Details of 2010 Budget Estimates in Relation to 2009 Estimates
| S/No. |
Details of Expenditure |
2009 Approved Estimates |
2010 Approved Estimates |
| 1. |
Estimated Recurrent Revenue |
|
|
| |
Bal. b/f |
1,532,000,000 |
1,250,000,000 |
| 1a. |
Internal Resources |
5,326,750,360 |
6,267,252,170 |
| 1b. |
Statutory grant from federal government |
26,491,783,000 |
22,584,659,760 |
|
Total |
33,350,533,360 |
30,101,911,930 |
| |
|
|
|
| 2. |
Estimated Recurrent Expenditure |
|
|
| 2a. |
Personnel costs |
4,991,808,800 |
8,348,859,120 |
| 2b. |
Overhead costs |
9,147,894,090 |
6,564,383,900 |
| 2c. |
Consolidated revenue funds charges |
2,031,484,130 |
1,759,274,720 |
| 2d. |
10% Grants to LGAs |
335,000,000 |
626,725,220 |
| 2e. |
2.5% LGA Pensions Board |
300,000,000 |
350,000,000 |
| 2f. |
Loans payment/servicing |
2,300,000,000 |
7,800,000,000 |
| 2g. |
Public debt charge |
500,000,000 |
300,000,000 |
| 2h. |
Standardization fund |
2,400,000,000 |
3,132,623,410 |
| |
Total |
22,026,187,020 |
28,881,866,370 |
| |
|
|
|
| |
Estimated Recurrent Budget Surplus/Deficit |
11,328,906,340 |
28,881,866,370 |
| |
Total |
33,355,093,360 |
30,101,911,930 |
| |
|
|
|
| 3. |
Summary of Capital Receipts |
|
|
| 3a. |
Transfer from consolidated revenue |
11,328,906,340 |
1,220,045,560 |
| 3b. |
Internal loans |
13,894,684,720 |
20,000,000,000 |
| 3c. |
External loans |
1,703,338,940 |
2,023,979,280 |
| 3d. |
Federal Government Grants |
3,197,030,000 |
3,000,000,000 |
| 3e. |
External grants |
1,230,000,000 |
1,200,000,000 |
| 3f. |
Value Added Tax (VAT) |
3,980,000,000 |
4,876,450,350 |
| 3g. |
Miscellaneous |
|
|
| |
Proceeds from debt relief
|
7,500,000,000 |
10,000,000,000 |
| |
Excess Crude
|
8,190,000,000 |
3,802,826,210 |
| |
Dollar Exchange Rate Gain
|
- - - |
1,200,000,000 |
| |
Total |
51,023,960,000 |
47,323,301,400 |
| |
|
|
|
| 4. |
Estimated Capital Expenditure |
51,023,960,000 |
47,323,301,400 |
| |
|
|
|
| 5. |
Total Budget |
73,045,587,020 |
76,205,167,770 |
Table 2
Major Capital Projects of Ebonyi State Government for Fiscal Year 2010
| S/No. |
Capital Projects |
Amount |
| 1 |
Rice processing cluster plants |
1,400,000,000 |
| 2 |
Establishment of cement factory |
500,000,000 |
| 3 |
Alternative power generator |
600,000,000 |
| 4 |
Construction and completion of road network |
5,709,000,000 |
| 5 |
Construction and completion of bridges |
3,100,000,000 |
| 6 |
GCCC to UBEB |
700,000,000 |
| 7 |
Construction/Rehabilitation and procurement of drugs and equipment for general hospitals |
500,000,000 |
| 8 |
Completion of the on-going Radio/Tele Studio |
500,000,000 |
| 9 |
International Hotel |
600,000,000 |
| 10 |
Water reticulation in the State |
3,000,000,000 |
| 11 |
Construction of water treatment plant at Ohafiaukwu |
2,000,000,000 |
| 12 |
Construction of water treatment plant at Oferekpe |
2,000,000,000 |
| 13 |
Construction of the State’s new secretariat at Ochudo City |
5,000,000,000 |
| 14 |
Construction of International Market |
500,000,000 |
| 15 |
World Bank Urban Development Project IDA fund |
826,340,000 |
| 16 |
Federal Government Conditional Grant Scheme (CGs) |
100,000,000 |
Table 3
Review of the Performance of 2009 Budget Estimate
| S/No. |
Item |
Raised Approved Estimates 2009 |
3rd Quarter Estimates |
Actual as at Sept. 2009 |
Performance |
| 1. |
Resources |
|
|
|
|
|
1a. |
Balance b/f |
1,532,000,000 |
1,532,000,000 |
1,149,000,000 |
75% |
| 1b. |
Internal Resources |
5,326,750,360 |
3,995,062,770 |
2,909,490,120 |
73% |
| 1c. |
Statutory Allocation |
26,491,783,000 |
19,868,837,250 |
15,155,979,
170 |
76% |
| 1d. |
Capital Receipts |
24,097,030,000 |
18,072,772,500 |
7,547,371,990 |
42% |
| |
Total |
57,447,563,360 |
43,468,672,520 |
26,761,841,280 |
62% |
| 1e. |
Loans |
15,598,023,660 |
11,698,517,750 |
9,148,849,240 |
78% |
| |
Total Resources |
73,045,587,020 |
55,167,190,290 |
35,910,690,520 |
65% |
| |
|
|
|
|
|
| 2. |
Expenditures |
|
|
|
|
| 2a. |
Personnel Emolument |
7,148,732,930 |
5,361,549,700 |
64,980,900 |
121% |
| 2b. |
Overhead Costs |
9,267,894,090 |
6,950,920,570 |
4,363,211,220 |
63% |
| 2c. |
Contribution to LGAs |
6,550,000,000 |
491,250,000 |
518,236,560 |
105% |
| 2d. |
Debt Payment/Servicing |
280,000,000 |
2,100,000,000 |
3,700,700,250 |
176% |
| 2e. |
Stabilization Fund |
- - - |
150,000,000 |
- - - |
- - - |
| |
Total |
20,021,627,020 |
14,903,720,270 |
15,080,598,930 |
101% |
| |
|
|
|
|
|
| 3. |
Capital Dev. Fund (A-B) |
53,023,960,000 |
40,263,470,020 |
20,830,091,590 |
52% |
| |
|
|
|
|
|
| 4. |
Actual: Capital Expenditure |
|
|
19,477,258,950.94 |
94% |
| |
|
|
|
|
|
| 5. |
Balance C/f (C-D) Unaccessed Fund |
|
|
1,352,832,640 |
6% |
| |
|
|
|
|
|
| 6. |
% of E to the Total Funds Available (A) |
|
Recurrent |
|
4% |
| |
|
|
|
|
|
| 7. |
Recurrent/Capital Ratio |
|
|
|
42:58 |
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