By Amaechi Okwara
Asaba
Delta state Governor, Dr Ifeanyi Okowa, yesterday, presented a budget proposal of N298078 billion for the 2018 fi scal year to the state House of Assembly
Presenting the budget, Okowa assured his administration’s commitment to “build a state anchored on inclusive economic growth and sustainable development
” He said that the “amount comprises the sum of N1475bn or 49
48 per cent for recurrent expenditure, and N1505 or 5052 per cent for capital expenditure
” While presenting a review of the 2017 budget performance from January to September, Okowa said the expenditure profile “shows that the total sum of N1270 billion was spent; out of which, the sum of N104
2 billion was incurred on recurrent items, as against a proportionate approved budget of N1185 billion, representing a budget performance of 8797 per cent” According to him, “The 2018 budget proposal shows an increase of N362 billion or 121 per cent, compared to the 2017 approved budget ofN2944billion,” it was expected that the sum of N713 billion would begenerated internally (IGR), statutory allocation, including mineralrevenue derivable – N1781 billion, value added tax – N107 billion, other capital receipts – N378 billion totalling N2980878 billion to finance the projected budget for 2018 fiscal year
From the budget proposal, road infrastructure will gulp the greater chunk of the money as Okowa asserted, “in line with our growth aspirations, the sum of N493 billion is earmarked in the proposed 2018 budget to sustain the current momentum in road infrastructure, including drains,” followed by the Delta state Oil Producing Areas Development Commission (DESOPADEC), which will take N28 billion from the presented budget for the 2018 fiscal year
