The Governor of Delta State, Governor Sheriff Oborevwori, on Wednesday, signed the 2024 Appropriation Bill of N724,979,313,867 billion into law. The approved budget is made up of N316,624,462,711 recurrent expenditure, while the sum of N408,354,851,156 is for capital expenditure.
While signing the budget tagged, “Budget of Hope and Optimism”, Oborevwori said the 2024 budget is geared towards putting the economy of the state on the path of sustainable growth.
Oborevweri remarked that the budget would boost both domestic and direct foreign investments and productivity and enhance the ease of doing business in the state.
He said: “I am happy to welcome you to this budget signing. I am happy because this time last year I stood here to present the 2023 budget for assent as Speaker, but by the grace of God I am sitting here as Governor of Delta to ascent to the bill.
“We have allocated 44% and 56% of the budget to recurrent and capital expenditure amounting to N724,979,313,867 billion total budget size.“The budget is very key to the developmental program of the state and the budget we signed today is less by 12 percent compared to that of 2023.
“In preparing these estimates, we were very mindful of the current economic realities thus the evident 12% reduction in the size of this budget when compared to that of 2023.
“We are cutting down on recurring expenditure to free up much-needed funds for the sustainable financing of our critical infrastructure and human capital.
“These would allow for the ease of doing business, attract domestic & direct foreign investments, and improve productivity thus sustaining the growth of our domestic economy.
“By the grace of God since the commencement of our administration in the last six months we have not borrowed and we are paying our contractors and meeting all our obligations.”
He commended the Speaker and members of the House of Assembly for their support and cooperation in the interest of the state.
Presenting the Appropriation Bill, the Speaker of the Assembly, Emomotimi Guwor, said that the Bill was presented to the House on November 29 and passed on December 14 after passing through all legislative processes.
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