Delta government presents 2018 budget estimates of N298bn


October 20, 2017 | 11:19 am
  |     |     |   Start Conversation
Delta State government on Thursday presented the 2018 budget estimates of N298.1 billion to the Delta State House of Assembly for consideration and approval.
The state governor, Ifeanyi Okowa, who presented the budget to the lawmakers in Asaba, said the 2018 budget estimates was higher than the 2017 approved budget of N294.4 billion by N3.62 billion, representing 1.21 percent.
The budget tagged, “Budget of Hope and Consolidation” would be funded from statutory allocation including mineral revenue derivation of N178.1 billion, representing 59.73 percent as against N148.9 billion projected in 2017, internally generated revenue of N71.3 billion, representing 23.94 percent against N70.1 billion of 2017.
Other sources include valued added tax (VAT) of N10.8 billion, representing 3.61 percent as against N10.5 billion in 2017, and other capital receipts/miscellaneous of N37.9 billion, representing 71.09 percent as against the projected sum of N64.8 billion in 2017.
Okowa said the budget was made up of capital expenditure estimates of N150.6 billion, which is N14.1 billion higher than the sum of N136.4 billion allocated to it in 2017, representing 9.39 percent, and the recurrent expenditure of N147.5 billion, representing 49.48 percent as against N158.1 billion of 2017.
He listed the components of recurrent expenditure to include personnel costs of N64.3 billion, representing 43.36 percent, overhead costs of N46.8 billion, representing 31.56 percent, and the consolidated revenue fund charges of N37.23 billion, representing 25.09 percent.
The sectoral breakdown of the 2018 budget includes economic N37.9 billion, social, N28.7 billion, environmental N35.3 billion, general administration N17.7 billion, DESOPADEC N28 billion, contingency fund N3 billion, agriculture N1.7 billion, education N18.7 billion, health N66 billion, and road infrastructure N49.3 billion.
Others are job creation scheme N1.2 billion, contributory health scheme N1.2 billion, environment and urban renewal N2.2 billion, Delta State Capital Territory Development Agency N3 billion.
The governor, who reiterated the determination of his administration to build a state anchored on inclusive economic growth and sustainable development, noted that the administration had not wavered from its promises to the people.
He posited that in line with the promises of his administration, many programmes/projects had been executed, as several were ongoing while few need urgent attention and follow up.
Tags: ,


October 20, 2017 | 11:19 am
  |     |     |   Start Conversation

Big Read |  


What Nigeria must do before signing AfCFTA

Nigeria’s President Muhammadu Buhari last Wednesday gave a hint that he would sign the African Continental Free Trade Area (AfCFTA)...

MTN Banner ADS 2


Newsletter Fixed income