Mr Godwin Obaseki, Governor of Edo State has presented a
budget estimate of N150bn for the year 2017
Obaseki made the statement saying the budget, tagged ‘Budget of consolidation and
prosperity,’ was 29 per cent higher than the N111.5bn estimate presented by his
predecessor, Adams Oshiomhole, in 2015.
The governor emphasised that while the sum of N74,900,297,917 was for recurrent
expenditure, N75,111,533,162 was set apart for capital expenditure, maintaining
50 per cent balance of capital to recurrent expenditure.
“This budget would have a deficit of N25bn for 2017 which is
within the acceptable threshold. The deficit will be funded mainly by external
borrowing from the third tranche of the World Bank budget support facility,” hesaid
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