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Edo Assembly approves N139.8bn revised 2020 supplementary budget

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Edo Assembly approves N139.8bn revised 2020 supplementary budget
Edo Assembly speaker, Hon Marcus Onobun

The Edo House of Assembly on Tuesday passed the sum of N139.8 billion 2020 revised supplementary budget.

The house had in July revised and passed the year 2020 budget of N179 billion to N128.8 billion representing 30 per cent reduction.

Governor Godwin Obaseki had on Nov. 9, sent the proposed revised supplementary law to the house for consideration and passage.

The Deputy Speaker, Mr Roland Asoro, representing Orhionmwon South, moved a motion for the house to dissolve into the committee of supply to consider the law.

The motion was seconded by the Majority leader Mr Henry Okhuarobo (PDP-Ikpoba-Okha).

Considering the proposed revised supplementary law at the Committee of Supply, the house adjusted the Recurrent Expenditure from N79.4 billion to N76.5billion with a difference of N2.8 billion.

The Capital expenditure was adjusted from N49.4 to N63.2 billion with a difference of N13.8 billion.

Breakdown of the revised supplementary budget indicates that Administrative sector under Recurrent expenditures was adjusted from N19.04 billion to N19.2 billion with a difference of N188 million.

Economic sector was adjusted from N5.6 billion to N5.3 billion with a difference of N278 million.

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Law and Justice sector was adjusted from N3.04 billion to N3.03 billion with a difference of N45 million.

Social sector was adjusted from N19.5 billion to N19.2 billion with a difference of N213 million.

The grand total for Administrative, Economic, Law and Justice and Social sectors under the Recurrent expenditure was adjusted from N47.2 billion to N46.8 billion with a difference of N348 million.

The Administrative sector under Capital expenditures was reduced from N18.4 billion to N10.03 with a difference of N8.4 billion.

Economic sector was increased from N27.2 billion to N34.7 billion with a difference of N7.4 billion.

Law and Justice sector was reduced from N289 million to N199 million with a difference of N90 million.

Social sector was reduced from N11.8 billion to N9.9 billion with a difference of N1.9 billion.

The grand total of capital expenditure was, however, increased from N49.4 billion to N63.2 billion with a difference of N13.8 billion.

The house after consideration passed the revised supplementary budget

The speaker, Mr Marcus Onobun, thereafter, directed that clean copies of the law be sent to the governor for his assent.

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Vanguard News Nigeria

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