Governor Emmanuel Uduaghan of Delta State on Wednesday presented a budget proposal of N391.5 billion for 2014 fiscal year to the state House of Assembly for approval.
Presenting the budget proposal in Asaba, Uduaghan said that the budget was made up of N159.7 billion for recurrent expenditure and N231.7 billion for capital expenditure. He said that the budget was lower by N80.4 billion when compared to the N472 billion of 2013.
The governor said that the budget, tagged “Budget of Consolidated, Sustainable Economic Growth and Development’’, was to enhance the growth of the state. It has become imperative that the completion of on-going projects shall be our priority.
“We have in this respect put together a budget and business plan in line with the objectives and priorities we set out in the three-point agenda of the state. Emphasis in 2014 shall be on the completion of ongoing key projects given the size of carryover projects.
“This (budget) is result-oriented strategy wherein allocations are tied to performing projects and programmes that can sustain development,’’ Uduaghan stated.
The governor said that the projected revenue for the state for 2014 was estimated at N62.4 billion against N61.4 billion in 2013, adding that the Internally Generated Revenue (IGR) estimate for 2014 was marginally higher than that of 2013 estimate by N1billion.
Uduaghan said that N229 billion, which represented N58.5 per cent of the budget, was expected from the Federation Account.