Edo State Governor Godwin Obaseki signed the revised supplementary budget of ₦450 billion into law Tuesday at the Government House in Benin City.
Obaseki, who signed the revised supplementary budget in the Exco Chamber, highlighted that the government is allocating approximately N5 billion to enhance the development of small businesses in the state.
He thanked the House of Assembly for expeditiously approving the revised supplementary budget and added that most of the funds would be deployed for capital projects across the state.
“What is different about this budget, which has been revised, is that we are almost certain that we have a 95 per cent performance on the budget. As of half a year, we are almost 100 per cent, relatively speaking. We don’t see the situation changing at the end of this year.
“What is more important for the Edo people that we represent is that with this supplementary provision, most provisions are now going to capital expenditure.
Whereas at the last evaluation, the budget ratio was about 55% for capital and 45% for recurrent, this appropriation is now 57% for capital and 43 for recurrent expenditures. You can see that a lot more efficiency and resources are going to our people.” Obaseki said.