Edo State Governor, Godwin Obaseki, has presented a budget proposal of 177.6 billion Naira to the Edo State House of Assembly for the 2020 fiscal year.
The figure represents 85 billion Naira for recurrent expenditure and 92 billion Naira for capital expenditure.
The Governor, during the presentation, said that the 2020 budget estimate which is to consolidate on the 2019 budget, is proposed on a projected revenue of 68 billion Naira as statutory allocation, 14.5 billion Naira on Value Added Tax, 40.3 billion Naira Internally Generated Revenue, 18.6 billion Naira from grants and 32 billion Naira to be sourced from development financing.
Governor Obaseki also proposed the 2020 budget estimates on a 60 dollar per barrel of oil and 3.2 million barrel per day, while Internally Generated Revenues are expected to increase in the state.
