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Edo’s debt profile now N18.8bn – Commissioner

By Gabriel Enogholase
BENIN—EDO State Commissioner for Finance, Mr. James Osagie Inegbedion, yesterday in Benin informed the State House of Assembly that the local debt profile of the state as at 2009 stood at N18.8billion.

Inegbedion, who briefed the legislators on the performance of the Ministry of Finance’s budget for 2009, listed the debt to include the N4.4 billion inherited from Prof. Osunbor’s administration, N12.9 billion for 2009 and N1.5 billion for the current fiscal year.

On the actual debt profile of the state, the commissioner said that his ministry was still working on it, just as he added that the government saved N14.4billion in 2009.

Asked to comment on the purchase of vehicles for magistrates in the state judiciary, the commissioner explained that the sum of N120 million was expended out of the N150 million budgeted for the purchase of the vehicles.

On the whereabouts of the vehicles since most of the magistrates now go to work on motor-cycles Okada, Inegbedion said his ministry was not involved in the purchase or distribution of the vehicles.

He told the House that the state received a total of N44.7 billion for 2009 in the following order: Internal generated revenue- N8.2 billion, excess crude oil- N6.25 billion and statutory allocation-N17.4billion.

Within the period under review, the commissioner informed the legislators that contractors handling various projects for the state government were mobilised with the sum of N26 billion.


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