SUNNY EGEDE/ANDREW IKEHI
Delta State Governor Sheriff Oborevwori, yesterday, presented the 2025 budget of N936 billion to the State House of Assembly for review and approval.
The Governor arrived at the Assembly complex around 10 a.m. and was greeted with enthusiastic cheers from the staff.
The budget presentation, The Pointer reports, was witnessed by members of the Bayelsa State House of Assembly who were in Delta on a three-day legislative retreat.
Christened “budget of Fiscal Consolidation”, a breakdown of the budget envelope shows a Capital expenditure of N587.3 Billion, representing 62.75 percent of the total budget and a total sum of N348.7 Billion as total recurrent expenditure representing 37.25 percent
Further breakdown of the proposed budget showed an increase of N211Billion as against the 2024 approved sum of N725bn, indicating an increase of 29%.
The increase according to the State Governor, was largely due to the realignment of the exchange rate which, he explained, resulted in higher FAAC allocations and associated revenues just as he added that it is in addition to a corresponding improvement in the state’s Internally Generated Revenues (IGR) in the year.
“It is my hope and fervent belief that the proposed 2025 Budget is a correct reflection of our sincere and frank assessment of the amount the state can generate on its own, in addition to what it is projected to receive from the Federation Account Allocation Committee (FAAC) and other sundry sources.
” Given the earlier indices espoused, this Draft Budget is higher than that of 2024 based on credible and realistic assumptions of the state’s actual revenue cash inflows and the current economic realities.
“The 2025 budget contains several initiatives planned to cushion the effects of fuel subsidy removal on our people and all the attendant economic challenges it has brought upon us.
“These include deliberate provisions to strengthen our social protection interventions and safety nets, basic rural infrastructure, agriculture and food security, agro value chain, and MSMEs.
“The 2025 Budget focuses on continued provision of physical infrastructure, human capital development, job creation, wealth creation, and poverty reduction in our dear state.
“The state government intends to achieve these, through prudent management of our resources and prioritizing expenditures on health, education, agriculture, water resources, environment, housing as well as women and youth empowerment programmes” Governor Oborevwori said.
Speaking further, the Governor noted that the 2025 budget envelope would be tailored towards the completion of on-going projects as well as critical new ones.
Motion for the receipt of the bill which, the Speaker of the State Assembly, Rt. Hon Emomotimi Guwor said, was assumed to have sailed through first reading, was moved by the majority leader, Hon. Emeka Nwaobi, was seconded by the member representing Ika North East State Constituency and Chairman, House committee on Finance and Appropriation, Hon. Marylyn Okowa-Daramola as it was unanimously adopted by the Lawmakers following a voice vote called by the Speaker.
Commenting on the bill, the speaker, Rt. Hon. Emomotimi Guwor assured the Governor and indeed, Deltans of accelerated deliberation and subsequent passage of the Bill just as he expressed the hope that the proposed Budget would provide policies and programmes targeted at alleviating poverty in the State through social welfare allocation.
He said, “We are hopeful that the proposed year 2025 Budget will make provision for job creation for youth and women empowerment, more investment in education and healthcare, accelerated infrastructure and human capital development”
