Delta State Executive Council on Monday, approved N936 billion as the proposed budget for the State’s 2025 fiscal year, with the assurance that the budget would be organically funded without borrowing.
Speaking at the Post-Exco Press briefing held at the Government House, Asaba, Sonny Ekedayen, Commissioner for Economic Planning, explained that the proposed budget comprises N587.4 billion, representing 62.75% for capital expenditure, while N348.7 billion, representing 37.25%, is for recurrent expenditure.
Ekadeyan, who spoke in company of Ifeanyi Osuoza, Commissioner for Information, Charles Aniagwu, Commissioner for Works (Rural and Riverine Roads), and Ebikeme Clark, Commissioner for Riverine Infrastructure, said the 2025 proposed budget was premised on an exchange rate of N1,300 per dollar.
“The budget size is N936,078,818,719 billion, broken down into capital and recurrent components of N587,361,060,084 billion capital, representing 62.75% while the recurrent component is N348,717,758,635 billion, representing 37.25%
“This budget reflects our commitment to key sectors with a balanced approach between recurrent and capital expenditures.
This 2025 proposal is 29.12% larger than the current year’s budget, demonstrating our dedication to advancing the state’s development.
“Our focus areas remain clear: agriculture; support for micro, small, and medium enterprises; youth empowerment; tourism; entertainment; social safety nets through poverty alleviation; physical infrastructure; healthcare; and education.
“While this provides an overview of the proposed budget, it is still subject to review and will be officially transmitted to the State House of Assembly for further deliberation.
“This administration is anchored on transparency and accountability. The 2025 budget will be 100% organically funded without any borrowing.
“A significant portion of the funding will come from the Federal Accounts Allocation Committee (FAAC) allocations, with our internally generated revenue serving as the secondary source.
“To give a clearer perspective, we anticipate that our Internally Generated Revenue will reach at least N140 billion.
“For the 2025 project proposals, this combination of Federal allocation and internally generated revenue will be the primary sources of funding”, he said.
Ifeanyi Osuoza, Commissioner for Information, in his comment, stated that the Council approved a range of impactful projects that aim at benefiting communities across the State.
Charles Aniagwu, Commissioner for Works, Rural and Riverine Roads, noted that the Council directed that contractors whose projects had lasted for more than one year without mobilising to site, would be determined.
Ebikeme Clark, Commissioner for Riverine Infrastructure, said that the Council ratified Governor Oborevwori’s approval for the construction of Model Secondary School in Oporoza and Construction of access road to Nigeria Maritime University Okerenkoko both in Warri South-West Local Government Area of the State.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
