The budget, titled "Budget of Divine Mandate Consolidation and Continuity (C to C)", will be funded by the federal allocation and other sources of revenue.
Umahi noted that his administration will implement approximately 41.67 percent of the budget by the time it expires.
This budget is a transition budget, which means that it will be implemented by both this administration and the next. The current administration would implement 41,67%, while the next would implement 58,33%.
Overhead expenses will consume N31,473,390,000.00, or 22.58 percent of the total budget.
According to the governor, the proposed budget for 2023 is 4.13 % less than the initial budget for 2022, which was N145 billion.
The budget, according to him, is intended to address the obstacles encountered thus far in the implementation of the original budget for 2022.
The governor explained that the decrease in the 2023 budget compared to the 2022 budget is due to the elimination or diminution of certain revenue sources.
In addition to beginning to service the loan for the ring road project that his administration took out, the State will service some loans it inherited.
