The Edo State Executive Council has approved a downward review of the 2017 budget from the initial sum of N153.2billion to N127.9billion representing a 16.5% reduction.
The Commissioner for Communication, Paul Ohonbamu made this known while speaking on the outcome of an executive council meeting held at the Government House in Benin city, the Edo State capital.
READ ALSO: Edo Govt To Empower Returnees From Europe, Libya With Agriculture
Explaining the reason for the cutdown, he stated that the creation of new ministries as well as the present harsh economic realities in the country necessitated this reduction.
Ohonbamu, said the commissioner for budget and planning had presented a memo requesting for the approval of the draft 2017 budget estimate because of the sub-optimal performance in the national macroeconomic environment.
Following this approval, the new budget estimate is to be sent to the state house of assembly for consideration and passage.
