Edo State Governor, Mr. Godwin Obaseki, has signed a revised supplementary budget of ₦450 billion into law, paving the way for a significant boost to small businesses and capital expenditure in the state.
During the signing ceremony at the EXCO Chamber in Government House, Benin City, Obaseki expressed his gratitude to the Edo State House of Assembly for their prompt approval of the revised budget.
“I want to express my profound gratitude and appreciation to Mr. Speaker and members of the Edo State House of Assembly for the honor you have done us by promptly and expeditiously approving the revised supplementary budget,” he said.
The governor explained that the revised budget aims to address the economic challenges faced by small businesses in the state, with a focus on capital expenditure and efficiency.
“We have almost certain 95 percent performance on the budget, and with this supplementary provision, most provisions are now going to capital expenditure,” he added.
Obaseki highlighted the importance of supporting small businesses, traders, and farmers, who have been affected by inflationary pressure.
“We are providing in this budget up to ₦5 billion, which we plan to disburse up to N1 billion monthly, to help very small businesses access capital,” he said.
The Speaker of the State Assembly, Rt. Hon. Blessing Agbebaku, presented the revised supplementary budget to the governor, noting that it would enable the administration to complete ongoing projects and leave a solid foundation for the next administration.
