Nigeria’s Governor Umahi presents N178.1 billion budget for 2020
On Friday, Governor David Umahi of Ebonyi presented a budget of N178.1 billion for 2020 to the state House of Assembly. The budget was lower than the 2019 figure of N188.4billion.
The governor stated that the budget has a recurrent expenditure of N46.08 billion representing 25.8 per cent and capital expenditure of N132 billion representing 74.1 percent.
“The increase in the capital expenditure is due to the borrowing from the African Development Bank (ADB) for the construction of the state ring road. It is pertinent to state that the fund is still with the ADB and not paid into the state’s accounts as the contractors will generate certificate and get paid directly from the Central Bank of Nigeria (CBN),” he explained.