Imo State Governor, Rochas Okorocha, Wednesday, presented 2018 budget estimate to the State House of Assembly, to the tune of N190, 921, 464, 290.
The budget was tagged ‘budget of Consolidation and Continuity.’
While breaking down the 2018 budget, the governor said: “The 2018 budget is higher than that of 2017 of N131, 143, 144, 277, by N59, 778, 320, 013 representing 45.58%.”
He added that “Out of the 2018 budget, N132.98 billion is for Capital expenditure representing 69.70% of the total budget while N57.943 billion is for recurrent expenditure which represents 30.30% of the total budget.
“And that the budget for works and Transport has the bulk allocation with N39,811,300,000 and followed by education with N13,500,000,000. Agriculture and Environment has N7,622,990,049, while the least is culture with N440,244,096.
“The total revenue for the 2018 proposed budget size, is N190, 921,464, 290, while for General Administration, N31,786,244, 000 (23.9%), and for government counterpart contribution, N12,254,000,000 (9.2%).”