Being Extract from 2017 BUDGET SPEECH
THE 2017 BUDGET ESTIMATES
Mr Speaker, our proposed budget for 2017 which we have christened the “Budget of Consolidation and Prosperity” is wrapped around the six key policy areas.
Mr Speaker, we have proposed a budget size of N150,011,831,079 Billion which is a nominal 29% increase over 2016 budget estimates made up of N74,900,297,917 as Recurrent Expenditure and N75,111,533,162 as Capital Expenditure. The revenue estimates are based on a $42.0 bench mark for crude oil and average daily production of 1.9mil barrels per day and expectations of improved performance of Internally Generated Revenue.
Hence we will maintain a balance of capital to recurrent expenditure (50%: 50%) in line with our plan to spend our way out of recession
This Budget would have a deficit of N25 Billion for 2017 which is within the acceptable threshold. The deficit will be funded mainly by external borrowing from the third tranche of the World Bank budget support facility.
The six key policy areas of the 2017 budget are summarised below:
Economic Revolution:
In our determination to create deliver on our mandate by Edo people to stimulate the creation of over 200,000 jobs, the State Government seeks holistic development through sustainable economic growth, to generate reliable employment opportunities and ensure citizens’ empowerment.
We will also create wealth through entrepreneurship development, anchored on access to capital, technology and skills development.
We have therefore set our agenda to embark on massive economic revolution to be driven by optimising our potentials in agribusiness and industrialisation.
Specifically, we will establish a one-stop-shop Business and Investment Bureau to identify growth opportunities and incubate projects that will transform the economy of Edo State in the areas of:
Agribusiness;
Electricity Generation & Distribution
Extractive Industry Development & Expansion;
Micro, Small and Medium Enterprise (MSME) development
Skills Development and productivity enhancement
Tourism, Culture, Leisure and Hospitality
Health Care Services
Utilities; and any other areas where we are positioned to be competitive to meet market demands.
To this end, we propose to invest N 22.2 Billion on the economic sector as a catalyst for economic growth and development in the course of 2017.
Infrastructure DEVELOPMENT:
Our strategic objective for infrastructure development is the successful delivery and efficient use of public infrastructure to encourage and facilitate the delivery of public services. In addition, we intend to ease the movement of people, goods and services for socio-economic activities and leisure.
To this end we will invest in a 10-20 year Edo State master-plan which will deliver a modern fit-for-purpose Land Use and Land Management system, reconstruct bad roads, extend roads to remote areas, improve Transportation and Traffic Management and introduce ICT and Broadband Technology into our infrastructure projects. We will also develop new Towns.
We recognise the critical role that electricity plays and will under various forms of partnerships drive electricity generation and Distribution initiatives through the Business Bureau.
As part of our investment in this critical area, we propose to spend the sum of N22.3 billion on infrastructure development and upgrade.
Institutional Reforms
It is our collective desire to build a modern public service where efficiency, productivity and service delivery are the hallmarks. Our institutional reforms will target the critical issues of Governance and administration, Civil Service Enhancement, Justice, Judiciary, Local Government, Rule of Law, Public Safety and Security.
We are determined to resolve all outstanding pension issues in Edo State. To this end, effective January 1, 2017 Edo State will commence the Contributory Pension Scheme. The sum of N3,179,872,873 has been proposed for the scheme. An additional amount of N6,034,480,729 has been provided to pay for outstanding gratuities and pension.
We have proposed a capital investment of N6.6 billion to rebuild the infrastructure of our institutions in 2017.
Environmental SUSTAINABILITY
It is a general consensus that as a state, we must attain global standards in environmental management, waste management and improved

access to potable water. To achieve this, we must necessarily cover delivery on Waste management and sanitation, Beautification of public parks and spaces, Water resources management and supply and Environmental protection. Our budget proposal has provided for N6.9 Billion as capital spend on the environmental sector.
Edo state has to become the cleanest state in Nigeria and with the co-operation of all we will unveil our plan to achieve this goal next month.
SOCIAL WELFARE ENHANCEMENT
Our social welfare strategy is geared towards ensuring that good healthcare, education and sports programs of global standards are available to all citizens of Edo State with value-for-money delivered, and also achieve improved living conditions. We have therefore proposed N17.3 billion to ensure that government fulfils its obligations in the provision of Public Health Care, Education, Sports Development, too Engagement and to substantially insulate the Vulnerable groups (Senior Citizens, Women, Children and Physically Challenged) from socio-economic discomfort in the year ahead.
CULTURE & TOURISM
Finally, in tune with the yearnings of our people to make critical investments in the preservation, development and showcasing of our rich cultural heritage and inherent potential for tourism, we have earmarked the sum of N305 million as catalyst for this sector in achieving our

objective to ensure that Edo state becomes the premier destination for cultural and eco-tourism in Africa. We will through the Business Bureau attract private capital to ensure that we optimize our potential for business and leisure tourism...