Delta State Governor, Rt. Hon. Sheriff Oborevwori, on Monday presented a ₦200 billion supplementary budget to the State House of Assembly for deliberation and approval.
The proposal, conveyed through a letter read on the floor of the House by the Speaker, Rt. Hon. Emomotimi Guwor, allocates ₦140.6 billion to recurrent expenditure and ₦59.4 billion to capital expenditure.
If approved, the supplementary budget will raise the state’s 2025 Appropriation Bill from ₦979.2 billion to ₦1.179 trillion.
In his letter to lawmakers, the governor explained that the additional funding was necessary to sustain the implementation of the administration’s MORE/Renewed Hope Agenda. He noted that the 2025 budget period runs until January 31, making it imperative to address emerging financial obligations.
According to Oborevwori, key reasons for the supplementary budget include the payment of a substantial lump sum to clear accumulated pension arrears in order to ease the hardship faced by pensioners who served the state diligently. He also cited the need to increase the state’s equity contribution to its Health Insurance Scheme following a surge in enrolment, to ensure the programme remains viable.
Other factors listed were the sharp rise in debt servicing costs, particularly on inherited foreign loans due to exchange rate realignment; the payment of 10 per cent of Internally Generated Revenue to local government councils, which exceeded initial projections; and the need to embark on additional community projects to address pressing developmental needs and improve living standards.
The governor further disclosed that the revised 2025 budget now stands at ₦1.179 trillion, made up of ₦489.4 billion for recurrent expenditure and ₦689.8 billion for capital expenditure.
Meanwhile, the supplementary budget passed its first reading at the House, with the second reading scheduled for Tuesday, January 21, 2025.
