Enugu generated N43.9 billion internally and their statutory allocations from the federation Account is 57.9billion.
According to the state’s first quarter Budget performance report, it’s spending was directed towards infrastructure, education and healthcare reflecting a push to convert rising revenues into development outcomes.
Below shows the breakdown of capital and administrative spending. It was infrastructure dominated expenditure.
a. Ministry of works & infrastructure accounted for N23.93 billion in spending.
b. The office of Accountant general recorded N5.33 billion
c. ENSUBEB received N4.55 billion
d. Head of service and primary Health care development agency received N3.34 billion and N1.79 billion
The above data suggests moderate recurrent spending.
The Governor maintained that his projected N870 billion internally generated revenue was realistic and achievable with discipline, creativity and sustained hardwork.
“Our 870 billion IGR target is realizable. We have grown IGR from below N30 billion In 2023 to over 180 billion in 2024, 400 billion in 2025, 800 billion in 2026. We believe that unlocking of different streams of economic potentials in Enugu state will realize the domestic revenue projection”
Enugu records strong double digit growth as its debt rose to N157.60 billion representing a 32.12% increase from 119.28 billion in 2021.
The increased debt ranking of the state suggests heavy reliance on borrowing to fund infrastructure and social investments, in addition there is widening fiscal gaps and expansion in capital expenditure
Read more Enugu’s Revenue Growth meets Rising Debt: Strategic Expansion or Fiscal Pressure?
