Ebonyi State Governor, Dave Umahi has signed into law, the state’s 2020 Revised Budget of N132.02 billion.
The new budget is about N46 billion representing 25.3% lower than the initially approved 2020 budget of N178.1 billion.
The adjusted budget also has a COVID-19 expenditure component of N28.615 billion, accounting for 21.68% of the total budget expenditure.
Performing the signing ceremony via virtual system, Governor Dave Umahi restated that the budget had to be revised due to the negative impact of Coronavirus pandemic on the global economy.
To cushion the effect of the pandemic, Umahi believes that the Agriculture sector is the way to go.
The Governor notes that his government will not allow the current economic reality to hold it sway from doing more in the areas of infrastructure and human capital development.
Also Read: Ebonyi State Govt proposes revision of 2020 Budget
The Commissioner for Finance, Orlando Nweze disclosed that, in coming up with the 2020 revised budget, the various sectors were affected in the adjustment, but special attention was paid to the MDAs that have direct dealing with the COVID-19 crisis.
(Editor: Ifeanyi Mark)
