Gov Mbah presents N1.62trn 2026 budget

Governor of Enugu State, Dr. Peter Mbah, on Tuesday presented a landmark N1.62 trillion 2026 budget estimate to the Enugu State House of Assembly, marking a shift from foundational reforms to full-scale transformation across sectors. The new budget—tagged “Budget of Renewed Momentum”—represents a 66.5% increase from the revised N971 billion 2025 budget. According to Governor Mbah, the proposal allocates N1.296 trillion (80%) to capital projects and N321.3 billion (20%) to recurrent expenses, amounting to a total of N1,617,397,465,000. To fund the budget, the state projects N870 billion in Internally Generated Revenue (IGR), N387 billion from the Federal Account Allocation Committee (FAAC), and N329 billion from capital receipts. A breakdown of the proposed spending showed that the Economic Sector would gulp N825.9 billion (51%); Social Sector: N644.7 billion (40.1%); Administration Sector: N128 billion; Justice Sector: N15.8 billion and Regional Sector: N2 billion. Governor Mbah said the massive allocation to the economic sector reflects the administration’s strategy to stimulate growth. “When we invest in agriculture, industry, and trade, we create jobs, reduce poverty, and grow revenue. This sector is central to our ambition of achieving a seven-fold GDP growth,” he stated.

The administration will intensify development of 20-hectare farm estates in all 260 wards, many of which are already at various stages of execution.

Education retains its position as the top priority, receiving 32.27% of the entire budget—continuing a trend established in the 2024 and 2025 budgets.

With over 260 Smart Green Schools completed or nearing completion, the state will now focus on establishing Smart Secondary Schools and Technical and Vocational Education Training (TVET) colleges.

The state also allocated N20 billion to settle inherited gratuity arrears, affirming that workers should not have to wait years to receive their earned benefits.

Additionally, N11 billion is set aside for the second phase of the state’s security surveillance system, while health receives 10% of the total budget.

Governor Mbah reported that Enugu State has so far spent N806 billion of the 2025 budget, achieving 83% implementation of the revised N871 billion budget.

He noted an unprecedented surge in revenue, saying IGR is projected to exceed N400 billion by year-end—a 221.6% increase over 2024 and the highest in the state’s history while FAAC inflows hit N230 billion, surpassing the projected N150 billion by more than 50%.

Mbah attributed the FAAC performance to President Bola Tinubu’s economic reforms, saying, “The removal of fuel subsidies, forex unification, and other fiscal measures have strengthened key macroeconomic indicators—lower inflation, easing interest rates, and a stabilised exchange rate. Our foreign reserves have also risen to about $46 billion.”

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