By Gabriel Enogholase
BENIN—EDO State Governor, Mr Adams Oshiomhole, has presented a budget estimate of N105.994billion for the 2011 fiscal year.

Presenting the budget to the state House of Assembly, yesterday, in Benin, Governor Oshiomhole said that the sum of N61.772billion, representing 58 percent of the  budget estimate has been earmarked for capital expenditure, while the sum of N44.222billion has been set aside for recurrent expenditure.

He told the state lawmakers, that the focus of the 2011 budget will be the completion of on-going capital projects in the state.

He explained the 2011 budget will be funded from Internally Generated Revenue (N18.5billion, Statutory Allocation N43. 687b,  Excess Crude and Others N4b.

Other sources of funding, the Governor disclosed, include: VAT (N7.44billion), Grants (N11.8billion), World Bank Budget Support (N7.5billion) and Sundry Sources (N7.20billion).

Oshiomhole explained that the N7.5billion anticipated budget support from the World Bank represents a fundamental endorsement of the government’s commitment and approach to development by the international donor community, saying that Edo State is the second sub-national government in the continent to benefit from this scheme.

According to the Governor, government priotrity in the execution of the Capital projects will be focused on roads, flood and erosion control and primary and secondary education.

On Education, the governor disclosed that that three new comprehensive model boarding secondary schools at the cost of N2billion, just as he announced the allocation of N500million for the completion of one female and one male hostels at the Ambrose Alli University, Ekpoma.

Comrade Adams Oshiomhole said the government will pursue the completion of the new comprehensive building complex in the Central Hospital, Benin and to be equipped with the state of art equipment, adding that the sum opfN1.8billion has been set aside for this purpose in the 2011 budget.