BY ANDREW IKEHI
Delta State Governor, Rt. Hon. Sheriff Oborevwori, today, presented a supplementary budget of N200bn to the State House of Assembly for consideration and approval.
The budget proposal, which he presented through a letter read on the floor of the House by the Speaker, Rt. Hon. Emomotimi Guwor, is made up of N140.6 Billion for Recurrent Expenditure and N59.4 Billion for Capital Expenditure.
The proposed Supplementary Budget, if approved by the Legislature, would beef up the 2025 Appropriation Bill to N1.179 Trillion.
It would be recalled that the state is currently implementing the 2025 Appropriation Bill of N979.2 billion
In the letter addressed to the lawmakers, the Governor said that the supplementary budget would enable the state to sustain the delivery of its ‘MORE/Renewed Hope Agenda’ for the state.
He said: “The need for a 2025 supplementary budget became necessary to address the following expenditures, bearing in mind that the 2025 budget runs till Jan. 31, 2016.
‘’The huge payment of lump sum to help defray the accumulated pension areas, a gesture aimed at ameliorating the plight of our pensioners who had served the state meritoriously.’’
He added: ‘’the increase in the contribution by the state government to beef up its equity contribution to the state-government-run Health Insurance Scheme owing to the surge in the number of participants in order to ensure its sustainability.’’
‘’The huge increase in the debt service amount, especially on the inherited foreign loan occasioned by re-translation of debt stock using the current realigned exchange rate.
‘’ The payment of 10 per cent of Internally Generated Revenue to local government councils which exceeded our initial projections”.
‘’And the need to take on additional projects in some of our communities which have genuine and pressing needs for such, in order to spread development and improve their living standards.’’
The governor, however, noted that ‘’the Revised Appropriation for the year 2025 stands at N1.179 trillion, comprising N489.4 billion for Recurrent Expenditure and N689.8 billion for Capital Expenditure.’’
Meanwhile, our correspondent reports that the Supplementary Budget sailed through first reading on the floor of the House, just as second reading of the bill comes up tomorrow, Tuesday, January 21, 2025.
