• Oborevwori presents N714.4bn budget for Delta
Bayelsa State Governor, Douye Diri, yesterday, presented the 2024 budget proposal of N480.99 billion to the state Assembly for consideration and passage.
Presenting the appropriation bill christened: “Budget of Sustainable and Shared Prosperity,” Diri recalled that in October 2023, the state Assembly approved the 2024/26 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF and FSP) for the state.
He explained that the budget proposal was predicated on the assumptions contained in the approval of the assembly.
He said: “I wish to present the 2024 budget estimates to the House. We are guided by the desire to prepare a realistic, implementable and prioritised budget, which is a reflection of the aspirations and wishes of critical stakeholders, and the economic realities in the country.
“I hereby present to you the 2024 budget with a total size of ₦480,993,632,369.00.”
He said the 2024 estimates would be funded through statutory allocation, Value Added Tax, 13 per cent derivation, internally generated revenue and other capital receipts.
On proposed expenditure, Diri said total personnel cost would gulp N69.120 billion, representing 14.37 per cent, total overhead cost N54.096 billion, representing 32.04 per cent, while total capital expenditure was put at N257.777 billion.
Giving a breakdown of the sectoral allocation, the state’s helmsman stated that the Works and Infrastructure Ministry got the lion’s share of N141.837 billion, followed by that of Education, which got N49.888 billion.
Also, the sum of N26.41 billion was earmarked for the Ministry of Health; Environment got N15.554 billion, while Agriculture and Natural Resources was allotted N14.886 billion.
The Youth and Sports Ministry got N7.656 billion, Lands and Housing N6.876 billion, while the Ministry of Power was allotted N6.49 billion, among other ministries.
Diri also reviewed the 2023 budget performance, which, he said, achieved considerable success and consistency in critical areas, such as security, education, health, agriculture, human capacity building, infrastructure development, among others.
“We built and upgraded health facilities across all local councils and health-related tertiary institutions, including completion and furnishing of the first psychiatric hospital in Bayelsa.
ALSO, the Governor of Delta State, Sheriff Oborevwori, yesterday, presented the 2024 budget of N714.4 billion to the state Assembly for approval.
Presenting the budget tagged, “Budget of Hope and Optimism,” Oborevwori said it was made up of N316.6 billion recurrent expenditure and N397.9 billion capital expenditure.
“I wish to announce a budget proposal of N714.4 billion for the services of Delta Government in 2024.
“This amount comprises the sum of N316.6 billion or 44 per cent of total budget for Recurrent Expenditure, and N397.9 billion or 56 per cent of total budget for Capital Expenditure,” he said.
Oborevwori said that the budget showed a decrease of N94.9 billion or 12 per cent, compared with the 2023 budget of N809.4 billion.
