By: Emmanuel Abi Couson
The Governor of Delta State, Rt Hon. Sheriff Oborevwori signed the State 2024 budget of N724 billion into law.
The ceremony which took place on Wednesday December 20 had in attendance the Speaker of the Delta State House of Assembly. Hon.Emomotimi Guwor and other dignitaries.
He said the 2024 appropriation law is very significant because it provides a foundation for sustainable delivery of our social economic part of the MORE agenda to the good people of Delta State.
The governor explained that the budget is 44 percent and 56 percent for recurrent and capital expenditures respectively amounting to N724.9B, which shows a 12% decrease, compared to the 2023 total budget.
The slight decrease, he said, is due to the fact “we have planned the 2024 budget around fiscal discipline. We are committed to faithfully implementing the 2024 Budget.”
The approved budget is made up of N316,624,462,711 recurrent expenditure, while the sum of N408,354,851,156 is for capital expenditure.
While signing the budget tagged, “Budget of Hope and Optimism”, Oborevwori said the 2024 budget is geared towards putting the economy of the state on the path of sustainable growth.
Oborevwori remarked that the budget would boost both domestic and direct foreign investments and productivity and enhance the ease of doing business in Delta State.
“I am happy to welcome you to this budget signing. I am happy because this time last year I stood here to present the 2023 budget for assent as Speaker, but by the grace of God I am sitting here as Governor of Delta to ascent to the bill.
“We have allocated 44% and 56% of the budget to recurrent and capital expenditure amounting to N724,979,313,867 billion total budget size.
“The budget is very key to the developmental program of the state and the budget we signed today is less by 12 percent compared to that of 2023. He said.
Furthermore he said “In preparing these estimates, we were very mindful of the current economic realities thus the evident 12% reduction in the size of this budget when compared to that of 2023.
“We are cutting down on recurring expenditure to free up much-needed funds for the sustainable financing of our critical infrastructure and human capital.
“These would allow for the ease of doing business, attract domestic & direct foreign investments, and improve productivity thus sustaining the growth of our domestic economy.
“By the grace of God since the commencement of our administration in the last six months we have not borrowed and we are paying our contractors and meeting all our obligations.”
Gov. Sheriff commended the Speaker and members of the House of Assembly for their support and cooperation in the interest of the development of the state.
Earlier while presenting the Appropriation Bill, the Speaker of the Assembly, Emomotimi Guwor, said that the Bill was presented to the House on November 29 and passed on December 14 after passing through all legislative processes.
