The Delta State Government has proposed a budget of N936 billion for the 2025 fiscal year, raising concerns about the state’s rising debt burden due to challenges posed by the exchange rate.
The Commissioner for Economic Planning, Sunny Ekedayen, disclosed this on Tuesday during the opening ceremony of the budget defence in Asaba, the state capital.
He noted that the state, like the rest of the country, is grappling with difficult economic conditions and urged citizens to adapt to the current realities.
Ekedenyen said, “This year’s budget defence will be more interactive compared to last year. We are working towards the governor’s MORE agenda, and whatever we agree on during these sessions will be forwarded for implementation.”
He stressed that the state government would be “strict and realistic” in its approach, ensuring that proposals align with the governor’s vision.
Addressing the impact of the current economic situation, Ekedenyen said, “We are experiencing a double-edged sword of exchange rate fluctuations and subsidy removal, making it a challenging period for the state.”
The commissioner revealed that Delta’s revenue-to-debt ratio over the past year stood at 97%, meaning nearly all the state’s earnings were consumed by its debt obligations.
He stressed that the 2025 budget proposal was based on actual receipts from June 2024 to date, reflecting the state’s financial constraints.
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