Delta State Plans To Spend N235.8Billion For 2010 Fiscal Year

DR. EMMANUEL UDUAGHAN.

Asaba (THEWILL) - Delta State Governor, Dr. Emmanuel Uduaghan has presented to the State House of Assembly a budget proposal of N235,706,937,556 billion, tagged, ‘Budget of Consolidation and Sustainable Development.’

The budget, which recorded a decrease of about N2billion as against the 2009 budget of N237bilion, is said to be a product of an in-depth review of events within the last two years of his administration.   

Uduaghan, while presenting the budget on the floor of the House, said, “the 2010 budget is a product of an in-depth review of the lessons learnt during the last two years of this administration,” saying it is more of a budget of consolidation and sustainable development.

Explaining further, the governor said the decrease was due to the administration’s cautionary approach to revenue projections a result of the instability in oil prices in the international market.  

He also disclosed that the main sources of funds for the budget include internally generated revenue, (IGR), statutory allocation, Value Added Tax (VAT), and other capital receipts and miscellaneous sources.

The budget proposal of N235.71 billion is made up of N96.19 billion or 40.81 percent for recurrent expenditure and N139.51 billion or 59.19 percent for capital expenditure.

The document was accepted by the House through a motion by the Majority Leader, Honourable Suny Emeyese and was passed on to the Finance and Appropriation Committee.