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DELTA State Governor, Dr Emmanuel Uduaghan on Wednesday presented a budget proposal of N327.68 for the 2015 fiscal year to the State House of Assembly.
Governor Uduaghan gave the breakdown of the budget as comprising N161.6 billion recurrent and N166.07 billion capital estimates, representing 49.32 and 50.68 per cents respectively.
Dr. Uduaghan disclosed that the 2015 estimates was lower than the 2014 fiscal estimates by N123.05 billion, explaining that the decrease was due to the fall in the price of crude oil at the international market.
“I wish to announce a budget proposal of N327,682,982,917(three hundred and twenty seven billion, six hundred and eighty two million, nine hundred and eighty-two thousand, nine hundred and seventeen naira) for the services of Delta State in the 2015 fiscal year.
“This amount comprises N161,606,428,928(one hundred and sixty one billion, six hundred and six million, four hundred and twenty-eight thousand, nine hundred and twenty-eight naira) or 49.32% for Recurrent Expenditure and N166,076,553,989 (one hundred and sixty billion, seventy six million, five hundred and fifty-three thousand, nine hundred and eighty-nine naira) or 50.68%for capital expenditure,” he said.
Sectoral breakdown of the capital estimates revealed that a lion share of N50.32 billion, representing 30.3 per cent went to the economic sector, followed by the social, general administration and environmental sectors while the sum of N34 billion was voted for the Delta State Oil Producing Areas Development Commission (DESOPADEC).
Governor Uduaghan said that N68.53 billion of the recurrent estimates was allocated to personnel costs, N51.33 billion for overhead costs with N41.69 billion set aside for consolidated revenue charges.
He gave the sources of funding for the budget as statutory allocation , including mineral revenue derivation, representing 63.74 while internally generated revenue (IGR), is 18.6 per cent, Value Added Tax (VAT), and other capital receipts, representing 13.58 and 3.81 per.
“The 2015 budget is driven by the successes recorded in various sectors of the State’s economy in the past seven years up to the 2014 Budget of Consolidation, Sustainable Economic Growth and Development as the 2015 budget is aimed at consolidating the achievement of 2014 budget as well as completing all on-going projects and programmes that will facilitate the fulfillment of the administration’s goal of making Delta State one of the most industrialized and developed States in Nigeria by 2020.
“Priority is given to the completion of on-going projects in the areas of rural and urban road network and infrastructure, security of life and property (including logistics support for law enforcement), healthcare and education.”
Reviewing the achievements of his administration since 2007, Governor Uduaghan said: “When this administration took over the mantle of leadership in 2007, I pledged to provide a more efficient government that will embody the vision of a politically united, socially integrated, stable, economically prosperous and well-organized State, with equal opportunity for all Deltans and in all modesty.
“I believe we have tried to actualize this pledge given the plethora of infrastructural development and other achievements we have recorded in the socio-economic transformation of our beloved Delta State.”
“Indeed, Mr. Speaker, Honourable members, after a critical review of our performance, so far, it is refreshing to note that this administration has with the cooperation and understanding of all stakeholders been able to meet some of the critical challenges of our shared vision for Delta State.”
Dr. Uduaghan stated, “we can with a good measure of certainty say that this administration has brought peace, tranquility and accelerated development to the state,” adding, “as we prepare to exit office next year, it is the avowed resolve and determination of this administration to finish strong, in this regard, it is gladdening to underscore that Delta State provides viable investment environment given its comparative advantages as a leading producer of oil and gas.
“The State is also strategically located and accessible to other parts of Nigeria by any means of transportation and government has invested heavily in security to create a safe and secure environment, we have a breed of young, educated and active population. Accordingly, we are committed to striving assiduously to deliver on the provision of critical infrastructures which this administration has set out to establish to support investors and improve business environment in our State in pursuit of our vision of Delta Beyond Oil.”
The Deputy Speaker of the Delta State House of Assembly, Rt. Hon. Basil Ganagana assured Governor Uduaghan on behalf of the Legislature that the budget proposal would be given speedy attention to ensure service delivery to Deltans.