The bill, tagged “Budget of Consolidation,” has a Capital Expenditure outlay of N71.7 billion, representing 51.4 per cent, and Recurrent Expenditure of N67.8 billion, representing 48.6 per cent.
Ikpeazu said the budget outlay was slightly less than that of 2018, which was N140. 9 billion.
He said that the decrease was mainly due to his administration’s resolve to prepare a budget that conformed with the current economic reality in the country.
He further said that the 2019 budget estimate was conceptualised to help realise the objectives of his administration’s five pillars of development agenda.
“In 2019, our focus will be on continuity and sustenance of the gains achieved by this administration in the areas of agriculture, education, health, infrastructure and youth cum women empowerment,” he said.
Responding, the Speaker of the house, Mr Chikwendu Kalu, promised that the house would give prompt attention to the budget estimate.
Kalu said, “Your Excellency, the legislature has during the presentation observed carefully packaged budget in line with the international transparency principle. We are in this together.”
Meanwhile, the house also on Friday passed a Supplementary Appropriation Bill of over N9.8 billion, presented to it by the governor for the year ending December 31, 2018.