The appropriation Bill Christened ‘Budget of Renewal, Hope and Growth showed an increase of 32.9% over the 2021 approved budget of 161 billion naira.
Governor Obaseki said that the budget was meant to ensure more investment in Human Capital development , consolidate on the reforms in the civil service ,
Obaseki said the appropriation bill Christened “Budget of Renewal, Hope and Growth” seeks to stimulate economic growth and sustainability of the state adding that it will be the first time the capital expenditure put at 118 billion naira was more than the recurrent at 95.9 billion naira.
This he said is based on the crude oil benchmark of 57 dollar per barrel and a total projected IGR 50.3 billion naira to be generated through tax reforms and other creative options.
Highlights of the budget include Education 24 .6 Billion Naira, Health 14.1 billion, Government Buildings 21Billion naira, Roads and Bridges 30billion naira, Youths and Social Development 5billion , Environment 8 billion naira ,Agriculture, 4.6, Water 1.2 ,Electricity 2.7 billion
The budget proposal also included Technology enhancement 7.6 billion, enhancing working environment 15 billion, Tourism and development of Benin cultural districts 2 billion and administration of justice 5 billion among others.
Highpoint was the presentation of the 2022 appropriation bill to the parliament for consideration and passage.
The Speaker , Rt.Hon. Marcus Onobun assured that the legislature would give the proposal expedited passage to ensure it’s prompt implementation.
The Bill was subsequently given it’s first reading and referred to the Committee on rules and business for consideration on a later date .