Governor Godwin Obaseki of Edo has proposed a N16.2-billion Supplementary Budget for the 2018 fiscal year to allow for more investments in education and agriculture, among other sectors.
The information is in a statement by Special Adviser to the Governor on Media and Communication Strategy, Crusoe Osagie in Benin on Wednesday.
Osagie stated that the governor announced the proposed supplementary budget after the weekly State Executive Council meeting held at Government House in Benin, an increase of about 10.79 per cent to the N150 billion budget for the year.
He quoted the governor as saying “the supplementary budget would be channelled to education, agriculture, among others, to build human capital and create wealth for people of the state”.
He added: “In the course of the 2018 fiscal year, President Muhammadu Buhari approved the disbursement of the final tranche of refunds from Paris/London club of borrowers to states and local governments.
“The state’s share of the refund amounts to N5 billion and Mr. President further approved the application of a portion of this refund to clear the arrears of state government’s cash contribution for Universal Basic Education Commission Grants.
“As of August 2018, the state government had achieved over 80 per cent budget performance on capital expenditure.”
Obaseki added that the Supplementary Budget would be forwarded to the State House of Assembly for passage.