CURRENT REPORT BLOG In a significant move towards sustainable development, Delta State Governor Sheriff Oborevwori presented the eagerly awaited N714.4 billion Appropriation Bill for the 2024 fiscal year to the State House of Assembly. Let’s dive into the details of this budget, aptly named the ‘Budget of Hope and Optimism,’ and explore the key sectors set to receive substantial funding.
Budget Breakdown:
Governor Oborevwori outlined the allocation, with 44% dedicated to recurrent expenditure (N316.6 billion) and 56% to capital expenditure (N397.9 billion). The emphasis is on strategic sectors, reflecting the state’s commitment to fostering holistic growth.
Road Infrastructure (N150 Billion)
Recognizing the importance of connectivity, the administration plans to invest significantly in critical road projects. This move aligns with their commitment to advancing urban-rural integration.
Education (N46.55 Billion)
A substantial allocation for education underscores the state’s dedication to nurturing a knowledgeable and skilled workforce.
Health (N18.65 Billion)
Prioritizing the well-being of its citizens, the budget allocates significant funds to the health sector to enhance healthcare infrastructure and services.
Agriculture (N7 Billion)
he commitment to agriculture aims to boost food security and support the livelihoods of rural communities.
Urban Renewal (N7.5 Billion)
Delta State seeks to revitalize urban spaces, enhancing the overall quality of life for its residents.
Addressing Challenges and Future Plans
Governor Oborevwori acknowledged the challenges faced by the people and reassured them of the administration’s determination to support the poor and vulnerable. The budget, his first since assuming office, is crafted to stimulate sustainable economic growth, attract investments, and create opportunities for citizens to participate actively in the economy.
Adapting to External Factors
The personnel cost of N150 billion in the budget anticipates a potential salary increase by the Federal Government in 2024, while the overhead cost mirrors the prevailing inflationary trend in the country. This strategic planning demonstrates the state’s proactive approach to economic changes.
Speaker’s Perspective
Speaker Emomotimi Guwor highlighted the historic nature of the budget presentation, being the first by Governor Oborevwori, and emphasized the House’s commitment to ensuring the budget aligns with international public sector accounting standards.
