ASABA/Nigeria: Rt. Hon. Sheriff Oborevwori, the Governor of Delta State, made a significant stride on Wednesday by presenting the state’s fiscal plan for the upcoming year, unveiling a N714.4 billion Appropriation bill to the State House of Assembly.
Dubbed the ‘Budget of Hope and Optimism,’ the allocation delineates a strategic focus on recurrent and capital expenditures. Governor Oborevwori detailed that 44 percent, amounting to N316.6 billion, would cover recurrent expenses, while the remaining 56 percent, totaling N397.9 billion, is earmarked for capital investments.
In his inaugural budget proposal since assuming office, Governor Oborevwori expressed a forward-looking vision. He emphasized its pivotal role in steering the economy towards sustainable growth, fostering increased investments and productivity, streamlining business operations, and facilitating wider citizen involvement in economic endeavors.
Highlighting specific allocations, the Governor pinpointed the N150 billion set aside for personnel expenses, anticipating a potential salary hike by the Federal Government in 2024. Additionally, he underscored the alignment of overhead costs with the prevailing inflationary trends in the country.
Road infrastructure emerged as a paramount focus, with Governor Oborevwori announcing a proposed allocation of N150 billion for the Ministry of Works. Other key sectors slated for substantial funding include Education at N46.55 billion, Health at N18.65 billion, Agriculture at N7 billion, Urban Renewal at N7.5 billion, Environment at N2.1 billion, and Youth Development at N1.7 billion.
Asserting the administration’s commitment to purposeful governance, Governor Oborevwori emphasized its process-driven and result-oriented approach. He sought to instill confidence by citing the substantial progress made in the preceding five months, affirming the dedicated pursuit of the outlined objectives within this budget.
Assuring support for the disadvantaged, the Governor pledged unwavering dedication to assisting the impoverished and vulnerable segments of society, reiterating the administration’s resolution to navigate through challenging times.
Appealing for expeditious legislative action, Governor Oborevwori urged the swift passage of the appropriation bill by the lawmakers to expedite its implementation.
Commending the historic nature of the budget presentation, Rt. Hon. Emomotimi Guwor, Speaker of the State House of Assembly, acknowledged Governor Oborevwori’s unique position as the immediate past Speaker presenting the state’s budget for the first time.
Guwor underscored the House’s commitment to ensuring adherence to the International Public Sector Accounting Standard, aimed at fostering efficient internal control and result-based financial management within the state’s public sector.
