AGS NEWS – Edo State Governor Godwin Obaseki signed a revised supplementary budget of N450 billion into law on Tuesday.

At the ceremony held at the Government House in Benin, Obaseki announced that N5 billion from the budget would be allocated to support the growth of small businesses in the state.

Obaseki expressed gratitude to the Edo State House of Assembly for swiftly approving the revised budget.

He explained that the adjustment was necessary to double the budget size from the previous N225 billion due to the economic changes, including exchange rate fluctuations.

The governor emphasized that the revised budget prioritizes capital expenditure, with 57% allocated to capital projects, up from 55% in the previous budget.

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The funds will be used to provide up to N1 billion monthly to assist small businesses, traders, and farmers, with the government collaborating with local market associations and communities.

Obaseki also addressed the concerns raised during recent protests over citizens’ welfare, assuring that the administration would complete all ongoing projects and lay a strong foundation for the next government.

The Edo State House of Assembly Speaker, Blessing Agbebaku, presented the revised budget, highlighting its importance in addressing areas not initially covered.

The state government also announced plans to unveil a new development plan for Edo State and Benin City to mark the 33rd anniversary of the state’s creation.

The celebration will include events involving school children and performances by Nigerian celebrities, showcasing the achievements of the current administration.