Delta State Governor, Sheriff Oborevwori, yesterday, signed the state’s 2024 Appropriation Bill of N724,979,313,867. The approved budget is made up of N316, 624, 462,711 recurrent expenditure, while the sum of N408,354,851,156 is for capital expenditure. 
   
While signing the budget tagged, ‘Budget of Hope and Optimism,’ Oborevwori said the 2024 budget is geared towards putting the economy of the state on the path of sustainable growth. 
   
He remarked that the budget would boost both domestic and foreign direct investments, as well as productivity and enhance the ease of doing business in the state. 
   
The objectives of the 2024 budget, he explained, is to control the effects of inflation through fiscal discipline and judicious allocation of resources, accelerated infrastructural development, stimulate growth of the non-oil sector and make the economy more resilient to external shocks. 
    
The governor underscored the significance of the budget by saying that the law provides a veritable foundation for the sustainable delivery of the government’s social and economic pact to the good people of Delta State. 
    
“We have allocated 44 per cent and 56 per cent of the budget to recurrent and capital expenditure amounting to N724,979,313,867 total budget size. 
 “The budget is very key to the developmental programme of the state. The budget we signed today (yesterday) is less by 12 per cent compared to that of 2023. 
    
“In preparing these estimates, we were very mindful of current economic realities, thus, the evident 12 per cent reduction in the size of this budget when compared to that of 2023. 
   
“We are cutting down on recurring expenditure to free up much needed funds for sustainable financing of our critical infrastructure and human capital.” 
 
The governor stressed that the budget will further enhance the business competitiveness of the state by nurturing and promoting the growth of Micro, Small and Medium Enterprises (MSMEs), create employment for the state’s teeming youth population and raise the productivity of the state’s land, labour and capital assets. 
   
He appreciated the state Assembly for the passage of the Bill, as well as previous administrations for entrenching core values of service through partnerships, innovation, transparency, accountability, inclusiveness and fiscal responsibility. 
   
Oborevwori added: “Let me assure our people of faithful implementation of the 2024 budget. This administration is focused, process driven, and result-oriented in its governance style.”