Bayelsa State Governor, Senator Douye Diri, on Thursday, presented the 2025 fiscal year budget proposal of N689.440 billion to the State House of Assembly for consideration and passage.
In Yobe State, Governor Mai Mala Buni also presented a proposed budget of N320.8 billion to the State House of Assembly for the 2025 fiscal year.
Presenting the appropriation bill christened, “Budget of ASSURED Prosperity,” Diri stressed that implementing the 2025 budget would require some level of efficiency and synergy in government activities across Ministries, Departments and Agencies (MDAs).
He said the overall outcome of the budget would significantly depend on the level of fiscal and monetary policy coordination.
He charged the Ministry of Budget and Economic Planning to accordingly ensure fiscal discipline, transparency, accountability and proper coordination in the implementation processes.
The state’s helmsman, who gave the projected revenue breakdown, announced statutory allocation of N17 billion, value added tax N57 billion, 13% derivation including refund N138.8 billion, and refund on excess crude N29.062 billion.
Diri also put exchange gains at N103.073 billion, internally generated revenue N39 billion, grants N39.4 billion while other capital receipts such as electronic money transfer, signature bonus, cash calls, loans among other items were projected at N141.4 billion, bringing the total receipts to N689,440,348,916.30
According to the governor, the breakdown of total expenditure for 2025 comprised personnel cost of N91.961 billion, pensions and gratuity including contributory pension of N19.324 billion, CRFC transfers N3,346,460,935 bringing the total personnel cost to N108.338 billion representing 13.3%.
Diri said the government had a projected overhead cost of N79.650 billion representing 11.55% with total recurrent expenditure at N263,375 billion representing 38.2% and total capital expenditure of N426,065 billion representing 61.8%.
The Ministry of Works and Infrastructure got the highest allocation of N178.761 billion, followed by education with N47.111billion while sports was allotted N37.850 billion, which included the construction of a new stadium.
The health sector got N19.994 billion, security was allocated N19 billion, agriculture N16 billion, and energy and power got N14.450 billion. Urban and housing development was allotted N13.680 billion while N10 billion was earmarked for the Ministry of Community Development.
Buni, while presenting the Appropriation Bill tagged: “Budget of Economic Consolidation and Poverty Reduction,” said the sum of N144.04 billion representing 44.9% was proposed as recurrent expenditure, while the sum of N176.8 billion representing 55.1% was allocated for capital expenditure.
Highlighting the breakdown, he said the government would concentrate on four sectors, namely Economic, Social, Administration, Law, Peace and Justice.
He said: “The economic sector would continue to play its pivotal role in our speedy growth and socio-economic development agenda for the state.
“A total sum of One Hundred and Fifty-six Billion, Nine Hundred and Thirty-one Million, Eight Hundred and Eighteen Thousand Naira (N156,931,818,000) is allocated to cover capital and recurrent expenditure, while the social sector has been earmarked with a total sum of One Hundred and Eight Billion, Four Hundred and Sixty-nine Million, Three Hundred and Sixty-six Thousand Naira (N108,469,366,000) for the funding of both its capital and recurrent expenditure.
“Likewise, the administrative sector which consists of the Government House, House of Assembly, Office of the Secretary to the State Government, Office of the Head of Service, Ministry of Home Affairs Information and Culture, Ministry of Humanitarian Affairs, Ministry of Religious Affairs and Ethical Re-orientation, State Independent Electoral Commission, Civil Service Commission, Local Government Service Commission, State and Local Government Auditors-General’s Offices, among others are to receive a proposed Fifty Billion, Six Hundred and Forty-four Million, Nine Hundred and Seventy-one Thousand Naira (N50,644,971,000), while Law, Peace and Justice will have a total sum of Four Billion, Seven Hundred and Sixty-four million, Eight Hundred and Forty-five Thousand Naira (N4,764,845,000) respectively.”
The Governor noted that the unfavourable exchange rate of Naira to the Dollar, and the unabated inflation rate has continued to negatively impact execution levels of projects and programmes.
Michael Olugbode and Olusegun Samuel
Follow us on:
Lawmakers have rejected a proposal for a six-year single term for presidents and governors, citing…
The House of Representatives has advanced a bill to expand the FCT’s High Court’s judicial…
Arrest warrants have been issued for Netanyahu, Gallant, and a Hamas commander, accusing them of…
MSF has suspended operations in Haiti due to escalating violence and threats from police and…
Congo's opposition has demanded protests over President Tshisekedi’s plan to draft a new constitution, fearing…
Simon Ekpa, self-proclaimed IPOB leader, has been arrested in Finland for spreading terrorist propaganda on…