Ebonyi State Governor, David Umahi, on Tuesday, presented a N122.8bn 2021 budget for the 2021 fiscal year to the state Assembly.
Tagged Budget of “Stabilisation and Consolidation in a Recession”, Umahi said a chunk of the revenue required to finance the budget was being expected from federal allocations, while other funds were expected from sales of international market stores, land proceeds, sales of malls and other receipts.
The Governor also projected a 10.47 per cent increase in the state’s internally generated revenue which stood at N10.5bn in the 2020 budget to N12.8bn.
Umahi said, “Our major revenue is expected to come from Federation Account estimated at about N52bn or 42.33 per cent of the budget. Other revenue heads like IGR, sales of international market stores, land proceeds, sales of malls, other receipts etc, will account for the balance of N57.994bn or 47.53 per cent of the total budget.
“We are projecting to increase our IGR from projected N10.5bn in the 2020 budget to N12.8bn or 10.47 per cent of our total expected revenue.”