The Delta State Governor, Rt. Hon. Sheriff Oborevwori has presented a budget estimate of a proposed budget of N714.4 billion for the 2024 fiscal year.
The State Executive Council (SEC), on Wednesday October 25th 2023, approved the budget during SEC meeting at Government House, Asaba, the state capital.
The meeting was presided over by the State Governor, Oborevwori.
Briefing journalists, the State Commissioner for Economic Planning, Mr. Sonny Ekedayen, who disclosed this, said the proposed budget comprised N397 billion, representing 56 percent for Capital Expenditure, while N316 billion, representing 44 percent, is for recurrent expenditure.
Ekadeyan, who was flanked by Chief Press Secretary to the Governor, Sir Festus Ahon, said the 2024 proposed budget was premised on an exchange rate of N750 per dollar.
According to him: “we just finished the state EXCO presided of by the Governor, His Excellency, Rt. Hon. Sheriff Oborevwori. The major discussion was on the 2024 proposed budget.
“The budget size is N714.4 billion, broken down into capital and recurrent components of N397 billion capital, representing 56 per cent, while the recurrent component is N316 billion, representing 44 per cent.
“The budget was premised on the vision of the present administration and encompassing largely on the activities and programmes that will drive the M.O.R.E agenda.
“It is still a proposition because the House of Assembly will still have to look at it and approve at a later date. However, broadly speaking, it’s a budget that the people will be happy and proud of because a lot of impactful and developmental projects will be embarked upon.
“The people should expect new townships and massive road infrastructures, with emphasis on quality; people should also expect some new expansions in the healthcare institutions we have in the state.”
He pointed out that the state government would continue to fund small businesses across the state in 2024.
According to him: “we should also expect the government to support the small and medium scale enterprises in the state with some kind of funds to support their businesses, which would be given at single digit interest rate.
“Looking at other things, agriculture will get a boost, such as rice and food crops production. We are hoping that one of the ways to fight the ravaging inflation is to make food available.
“So, the Agric Ministry will be on its feet. Like I said, it’s a people’s budget”.