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Okowa presents N266 billion Delta Budget for 2016

By News Express on 08/12/2015

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Views: 3,840


Delta State Governor, Senator (Dr.) Ifeanyi Okowa, today presented a budget proposal of N265,668,156,174 for the 2016 fiscal year to the Delta State House of Assembly.

This amount comprises N153.156, 852,956 or 57.65 per cent for Recurrent Expenditure, and N112,511,303,218 or 42.35 per cent for capital expenditure.

The 2016 budget proposal shows a marginal increase of N12.724bn or 5.03 per cent when compared to the year 2015 amended budget of N252.943bn.

A sectoral breakdown of the budget shows that the sum of N2.296bn would be spent on the State Job and Wealth Creation Scheme, Transport Sub-sector N15.421bn, Health Sector N5.9bn, and Education N10.1bn, while Delta State Oil Producing Areas Development Commission was allocated N28bn.

Governor Okowa said of the ‘Budget of Renewed Hope and Inclusive Development,’: “The budget is admittedly tight but it is consistent with our vision for maintaining strict fiscal discipline.”

He noted that the health of the state’s public finances was crucial to good governance which would inspire hope and confidence, attracting investors, ensure the sustainable development of the state’s economy as a whole and maintain the basic principles of prudent management of public finances in strict adherence to due process and keep expenditure within revenue limits.

 “As part of our resolve to avoid the mistakes of the past and ensure that we get full value for every kobo spent the project monitoring and supervision function is being handled by a Directorate under the leadership of the Senior Policy Adviser.” the Governor said.

To this end, he warned that no contractor will get away with any shoddy or uncompleted jobs. According to the Governor, it was for this reason that the Economic Intelligence Unit of the Ministry of Economic Planning has been strengthened to enable it discharge its responsibility as the due diligence outfit for Government.

Similarly Governor Okowa observed that the State Executive Council has resolved that from now on, any government official who, either by omission or commission, allows the State to be short-changed in its investment projects will be severely sanctioned. He noted that the goal of his administration was for Delta State to become the most prosperous State in the country.

Governor Okowa was accompanied to the Delta State House of Assembly by his Deputy, Barr. Kingsley Otuaro, his commissioners and top government functionaries to the budget presentation session today; which was presided by the Speaker of the Delta State House of Assembly, Rt. Hon. MondayIgbuya.

Deputy Speaker, Rt. Hon. Friday Osanebi thanked Governor Okowa for his respect for the legislature and for working in the interest of Deltans and moved a motion for the budget proposal to be accepted as a working document while the member representing Oshimili South Constituency, Rt. Hon. Peter Onwusanya seconded the motion for the adoption of the motion which was overwhelmingly done.

•Photo shows Governor Okowa.

Source News Express

Posted 08/12/2015 6:28:34 PM

 

 

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