...Analyzing Governor Mbah's Visionary Budget for Enugu State, a Deeper Insight by Dr. Gerald O. Ugwoke
In a landmark event at the Enugu State House of Assembly on December 5th, 2023, His Excellency, Governor Peter Ndubuisi Mbah, unveiled the 2024-2026 Multi-Year Budget under the compelling theme, "Budget of Disruptive Economic Growth." Dr. Gerald O. Ugwoke, renowned for his insightful analyses, delves into the strategic vision outlined by Governor Mbah, emphasizing transformative policies, past achievements, and key initiatives.
As Dr. Ugwoke critically examines the proposed budget, readers gain a comprehensive understanding of the administration's commitment to reshaping Enugu State's economic landscape and fostering sustainable development.
Introduction:
His Excellency, Dr. Peter Ndubuisi Mbah, the distinguished Governor of Enugu State, presented the 2024-2026 Multi-Year Budget on December 5th, 2023, in a momentous event held at the Legislative Chambers of the Enugu State House of Assembly. This budget, themed "Budget of Disruptive Economic Growth," reflects the governor's unwavering commitment to fulfilling campaign promises and propelling Enugu State into a new era of prosperity.
Strategic Vision for Economic Growth:
Governor Mbah outlined a bold vision for Enugu State, aspiring to make it one of the top three states in Nigeria by Gross Domestic Product (GDP) and achieve a zero percent poverty headcount index. The administration aims to elevate the state's GDP from $4.4 billion to an impressive $30 billion by 2031. This ambitious agenda rests on three foundational philosophies: the pivotal role of private sector involvement, the transformative impact of robust education and healthcare systems, and a strategic shift away from reliance on Federal Allocations.
Past Achievements and Progress:
Governor Mbah highlighted significant achievements from the revised 2023 budget, including the launch of an ultra-modern water scheme at Ninth Mile, awarding contracts for over 81 road projects, expanding the National Cash Transfer Register, and initiating the accumulation of 300,000 hectares of land for a corporate farming land bank. The administration has also taken noteworthy steps in enhancing security, discontinuing the Monday sit-at-home campaign, and implementing a Distress Response Squad with CCTV surveillance in progress.
Key Initiatives in the 2024-2026 Budget:
1. Disruptive Education Transformation:
- Construction of 260 Smart Model Basic Schools.
- Infusion of Technology, Robotics, and Artificial Intelligence into the curriculum.
- Experiential learning approaches with extensive teacher re-training.
2. E-Governance for Efficient Public Service:
- Automation of all MDAs for internal operations and public service.
- Extensive training of public servants on technological tools.
Budget Overview:
The proposed total budget for 2024 is ₦521,561,386,000.00, a remarkable 132% increase from the 2023 revised budget. The budget is categorized into Recurrent Expenditure (₦107,227,266,000.00) and Capital Expenditure (₦414,334,120,000.00).
Revenue Estimates:
Total recurrent revenues for 2024 are projected at ₦383,789,000,000.00, sourced from various streams including IGR, Statutory Revenue, Excess Crude, Value Added Tax (VAT), and an opening balance of ₦11,000,000,000.
Sectorial Allocation:
Major allocations include:
- ₦134,587,982,647.78 (Education - 73.6% of Social Sector)
- ₦21,777,421,000 (Healthcare)
- ₦82,535,147,361.03 (Infrastructure and Roads)
- ₦28,970,250,000 (Water Sector)
- ₦25,184,154,671.81 (Agriculture)
Economic Diversification and Job Creation:
The budget emphasizes initiatives to boost agriculture, industrialization, and private sector investment, promoting self-sufficiency, creating employment opportunities, and fostering economic diversification.
Good Governance and Fiscal Prudence:
Governor Mbah pledged to eradicate corruption, promote transparency, and ensure fiscal accountability. The administration will enhance collaboration with security agencies, increase PPP, and improve the ease of doing business.
Conclusion:
Governor Peter Ndubuisi Mbah's 2024-2026 Multi-Year Budget reflects a strategic and visionary approach to achieving disruptive economic growth in Enugu State. With a focus on education, technology, infrastructure, and economic diversification, the administration aims to build a more prosperous, inclusive, and resilient state. The governor urged all stakeholders to unite in this journey toward a brighter future, emphasizing that "our Tomorrow is indeed here."
Gerald Ugwoke DPA, PFD,DLM, FCPAN, FPAM FPLM MNIM.
Enugu, Nigeria
