Gov. Uduaghan Presents N327.68billion Budget For 2015 Delta State governor, Dr. Emmanuel Uduaghan, on Wednesday, presented a budget proposal of N327.68billion for the 2015 fiscal year to the state House of Assembly. The Governor gave the breakdown of the budget as comprising N161.6 billion recurrent and N166.07 billion capital estimates, representing 49.32 and 50.68 percent respectively. He disclosed that the 2015 estimate was lower than the 2014 fiscal estimate 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 per cent 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 per cent for capital expenditure,” he said. Sectoral breakdown of the capital estimates revealed that a lion share of N50.32bn, representing 30.3 per cent is allocated to the economic sector, followed by the social, general administration and environmental sectors while the sum of N34bn is voted for the Delta State Oil Producing Areas Development Commission (DESOPADEC). According to Uduaghan, N68.53bn of the recurrent estimates was allocated to personnel costs, N51.33bn for overhead costs and N41.69bn 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 per cent while internally generated revenue would be 18.6 per cent. The governor said, “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.” “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 industrialised and developed states in Nigeria by 2020.”
Posted on: Thu, 18 Dec 2014 12:50:37 +0000
Trending Topics
Recently Viewed Topics
© 2015