N714.4bn Approved As proposed budget for 2024

      The Delta State government has approved a proposed budget of N714.4 billion for the fiscal year 2024.

During the State Executive Council (EXCO) meeting in Asaba, the government disclosed that the proposed budget is divided into N397 billion, which represents 56 percent for Capital Expenditure, and N316 billion, representing 44 percent, for recurrent expenditure.

Speaking at the conclusion of the meeting, Mr Sonny Ekedayen, the Commissioner for Economic Planning, flanked by the Chief Press Secretary to the Governor, Sir Festus Ahon, stated that the 2024 proposed budget is based on an exchange rate of N750 per dollarEkedayen explained, “We just concluded the State EXCO meeting presided over by Governor His Excellency Rt. Hon. Sheriff Oborevwori. The major focus was on the 2024 proposed budget.

“The budget size is N714.4 billion, with N397 billion allocated to capital expenditure, representing 56 percent, while N316 billion goes to recurrent expenditure, representing 44 percent.

“The budget is aligned with the current administration’s vision and focuses largely on activities and programs that will drive the M.O.R.E agenda.

“While it’s still a proposal and subject to approval by the House of Assembly at a later date, it’s a budget that will make the people proud, as it includes numerous impactful and developmental projects.

“Expect new townships and significant road infrastructure projects, with a strong emphasis on quality. Additionally, the healthcare sector will see expansions and improvements.“The government will continue to provide support for small businesses across the state in 2024, offering financial assistance to small and medium-sized enterprises at a low interest rate. Agriculture, especially rice and food crop production, will receive a boost to address rising inflation and ensure food availability.

“In summary, this is a people’s budget that focuses on development and the welfare of the people of Delta State.”