Delta State Executive Council (EXCO) has approved a proposed budget of N714.4 billion for the 2024 fiscal year comprising N397 billion (56 percent) for capital expenditure and N316 billion (44 percent) for recurrent expenditure.
The approval was given on Wednesday at a meeting presided over by the state governor, Sheriff Oborevwori.
The Commissioner for Economic Planning, Mr Sonny Ekedayen, who disclosed this at a post EXCO press briefing at Government House, Asaba, said the 2024 proposed budget was premised on an exchange rate of N750 per dollar.
“We just finished the state EXCO presided of by the Governor, His Excellency, Rt. Hon. Sheriff Oborevwori. The major discussion was on the 2024 proposed budget,” Ekedayen said.
“The budget size is N714.4 billion, broken down into capital and recurrent components of N397 billion capital, representing 56 percent, while the recurrent component is N316 billion, representing 44 per ent.
“The budget was premised on the vision of the present administration and encompassing largely on the activities and programmes that will drive the M.O.R.E agenda.
“It is still a proposition because the House of Assembly will still have to look at it and approve at a later date. However, broadly speaking, it’s a budget that the people will be happy and proud of because a lot of impactful and developmental projects will be embarked upon,” he said.
Ekadeyan who was accompanied by the Chief Press Secretary to the Governor, Sir Festus Ahon, said the people of Delta State should expect new townships and massive road infrastructure with emphasis on quality, as well as some new expansions in the healthcare institutions in the state.
“We should also expect the government to support the small and medium scale enterprises in the state with some kind of funds to support their businesses, which would be given at single-digit interest rate,” the Commissioner said.
“Looking at other things, agriculture will get a boost, such as rice and food crops production. We are hoping that one of the ways to fight the ravaging inflation is to make food available. So, the Agric Ministry will be on its feet. Like I said, it’s a people’s budget
,” he said.
