Edo Governor Signs 2021 Appropriation Bill Into Law

Governor Godwin Obaseki of Edo State on Wednesday signed the state’s 2021 Appropriation Bill pegged at N164.7bn into law after the bill was passed by the Edo State House of Assembly.

Obaseki said the budget named, ‘Making Edo Great Again Budget’ is anchored on economic recovery amid the coronavirus pandemic, whilst building a workforce of the future.

AllNews gathered that Governor Obaseki, who signed the budget at the Executive Chambers in Government House in Benin City said his administration prioritized recurrent expenditure in the budget.

According to him, “The Assembly earlier approved that the state goes to the market to raise money and finance a part of the budget. We have successfully closed a N25 billion 5-year bond at a record price of nine percent. The resources will be available to commence the funding of this budget."

Obaseki who stressed that the budget would address challenges in critical sectors of the economy said the 2021 budget is primed at strengthening the state’s healthcare system across the board, sustaining gains in the education and social sectors, providing needed stimulus to drive food security, supporting the weak and vulnerable in the society and actively engaging the youths.

Obaseki said funds have been raised to ensure a successful implementation of the budget for the benefit of the people and state.

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“We are working on improving tax collection to enable us to have all the resources needed to finance this appropriation act. We are cutting down on waste to grow Edo's economy in the right direction.”

He, however, commended the leadership and members of the Edo State House of Assembly for the prompt attention given to the bill and its speedy passage.

Meanwhile, the Edo State House of Assembly Speaker, Marcus Onobun while presenting the budget estimate noted that the Assembly deemed it fit to review the estimates upwards from the initial 153.4bn.

Onobun added that the budget passage was prompt and speedy to ensure that the government continues delivering the dividends of democracy to the people.