Ebonyi State government has set a machinery in motion to plug loopholes in its revenue generation, with a view to raising its profile to N8.855 billion annually.

Commissioner for Finance and Economic Development, Ebonyi State, Mr. Timothy Odaah, who disclosed this in Abakaliki weekend, said the establishment of an efficient data base for effective revenue collection would guarantee the state’s projected 42 percent increase in internally generated revenue, IGR, for 2011.

He said the digitalization and modernization of landed property documentation and introduction of enhanced motor registration in the state would also enhance the realization of N8.855 billion, compared to last year’s revenue of N6.158 billion.

The commissioner, who made the disclosure while giving a critical breakdown of the 2011 budget of N61.108 billion, noted that the figure was 21 percent lower than the 2010 budget.

He said:  “The budget will be funded through saving carried forward, Internally Generated Revenue, Statutory Allocation, Unutilized proceeds from Bond proceeds and Capital Receipt.

“The Recurrent Expenditure for the 2011 fiscal year is twenty-nine billion, nine hundred and ninety-two million, eight hundred and sixty-nine thousand, nine hundred and ninety naira.

“In practical terms, twenty-three billion, nine hundred and nine-two million, eight hundred and sixty nine thousand, nine hundred and ninety naira is partly for the recurrent expenditure while six billion is a contingency fund reserved in the stabilization Account for use on eventual issues.”

“In the 2011 fiscal year, a sum of thirty billion, one hundred and ninety five million, six hundred and seventy-nine thousand, seven hundred and fifty naira is appropriated for Capital Development, which represents 50 percent of the total budget size of the state.

“ This is allocated to the Economic, Social, Environment and Regional Development, General Administration.”

He gave the highlight of the priority capital projects of Ebonyi State government for 2011 fiscal year to include Works and Transport, Water resources and Supply, Manufacturing, Housing, Education, Agriculture, Health, Culture and Tourism.

According to him, the realization of this year’s budget rests on the shoulders of not only the state government but also the entire citizens of the state.