On Wednesday, Hon. Sheriff Oborevwori, governor of Delta State, addressed the State House of Assembly with an allocation bill for the 2024 fiscal year, totaling N714.4 billion.
“Budget of Hope and Optimism,” the fiscal plan unveiled by Governor Oborevwori, included capital expenditures amounting to N397.9 billion and recurring expenditures amounting to N316.6 billion, or 44 percent and 56 percent, respectively.
To direct the economy towards sustainable growth, increase investments and productivity, make conducting business easier, and create enough chances for individuals to participate in the economy, he stated in his first budget proposal since taking office, which is for 2024.
The budgeted staff cost of N150 billion, according to Governor Oborevwori, was set aside in anticipation of a potential wage rise by the Federal Government in 2024, while the overhead cost reflected the country’s inflationary trend.
“We are irrevocably committed to advancing urban-rural integration,” Oborevwori stated, adding that the 2024 fiscal year would see the administration begin building more crucial road infrastructure.
Our proposed budget for 2024 includes N150 billion for the ministry of works’ road development, N46.55 billion for education, N18.65 billion for health, N7 billion for agriculture, and N7.5 billion for urban regeneration.
Budgeted at N2.1 billion, youth development would receive N1.7 billion. Our 2024 budget places a premium on these critical areas.
The leadership style of this government is methodical, focused, and results-oriented. Given our accomplishments over the past five months, our citizens should have faith that we will work tirelessly to achieve the objectives outlined in this budget.
“You can be confident that this administration is hell-bent on getting our people through this tough time, and we’re doing everything in our power to help the most vulnerable among us.”
He pleaded with the legislature to enact the appropriations bill as soon as possible.
Rt. Hon. Emomotimi Guwor, Speaker of the State House of Assembly, had earlier stated that the governor’s budget presentation was unprecedented because he had previously served as Speaker of the House.
According to Guwor, the House will make sure the budget is in line with the International Public Sector Accounting Standard. This standard is designed to help the state’s public sector improve its internal controls and implement results-based financial management.
Mismob Media