Diri seeks lawmakers’ approval for N480.9b 2024 budget.

Diri seeks lawmakers’ approval for N480.9b 2024 budget.

....Makinde to present 2024 budget estimates to Oyo Assembly December 5.

......Oborevworii takes N714.4b proposal to Delta lawmakers.

Bayelsa State Governor Douye Diri yesterday presented an Appropriation Bill of N480.9 billion for the 2024 fiscal year to the state House of Assembly for consideration and passage.

Diri said the fiscal proposal, titled: Budget of Sustainable and Shared Prosperity, would be funded through Opening Balance of N13.6 billion; Statutory Allocation, N57 billion; VAT, N36 billion; 13 per cent Derivation, N208.9 billionn; IGR, N23.8 billion, and other capital receipts, such as stamp duties, loans, grants, among others, estimated at N141.578 billion.

The governor also broke down the planned expenditures as follows: Personnel Cost N52.3 billion; Pensions and Gratuity, N13 billion; Contributory Pension Scheme, N2.4 billion, among others.

He said Overhead Cost would gulp N94.3 billion; Grants, Contributions and Subsidies, N13.8 billion; 10 per cent Contribution to SUBEB, N2.5 billion; RDAs, N170 million and Public Debt Services N43.245 billion, bringing the total overhead cost to N154 billion.

On Capital Expenditure, Diri said total expenditure would be N257.7 billion, including planning reserve of N12.2 billion, representing 53.59 per cent of the budget; while the Recurrent represents 46.41 per cent of the budget.

Diri said Works and Infrastructure would gulp N141.8 billion; Education, N49.8 billion; Agriculture, N14.8 billion; Environment, N15.5 billion; Health, N26 billion; and Lands and Housing, N6.8 billion. Others include Youths and Sports, N7.6 billion, Transport, N6.4 billion, and Power N6.04 billion.

Allocations to other sectors and ministries did not feature in the governor’s speech.

Diri said his administration would continue to provide the enabling environment to attract investors for the growth of the state’s economy and the empowerment of the people to participate in that space.

Bayelsa State House of Assembly Speaker Abraham Ingobere hailed the governor and his team for their commitment, courage and character in implementing this year’s budget well.

He promised that the budget proposal would be given expeditious passage.

Delta State Governor Sheriff Oborevwori yesterday presented a N714.4 billion Appropriation Bill for the 2024 fiscal year to the State House of Assembly.

Oborevwori said the budget, named: Budget of Hope and Optimism, comprised a Recurrent Expenditure of N316.6 billion, representing 44 per cent; and Capital Expenditure of N397.9 billion, representing 56 per cent of the total budget.

The governor said his administration would embark on the construction of more critical roads because “we are irrevocably committed to advancing urban-rural integration”.

He added: “In 2024, we propose to spend N150 billion on Road Infrastructure for the Ministry of Works; N46.55 billion on Education; Health will gulp N18.65 billion; Agriculture, N7 billion; and Urban Renewal, N7.5 billion.

“Environment will gulp N2.1 billion, and Youth Development N1.7 billion. These key sectors are very essential in our 2024 budget.”

House of Assembly Speaker Emomotimi Guwor said the budget presentation was historic as it was the first being presented by the governor, who was immediate past Speaker of the House.

In Oyo State, Governor Seyi Makinde is scheduled to present the 2024 Appropriation Bill to the House of Assembly on December 5.

The governor is expected to be accompanied by top government officials during the ceremony.

The state government had held stakeholders’ consultative meetings on the proposed budget before the seven administrative zones of the state to give account of this year’s budget performance and collate the views and needs of people across all the zones.