The Delta State Executive Council on Wednesday, approved the 2024 state budget proposal totalling N714 billion at a meeting presided over by Governor Sheriff Oborevwori.
The Commissioner for Economic Planning, Mr Sonny Ekedayen, who stated this while briefing newsmen shortly after the meeting at the Government House Asaba, said that the budget estimates comprised capital expenditure of N397 billion, representing 56 per cent of the proposed budget while N316 billion, representing 44 per cent of the budget, was earmarked as recurrent expenditure.
Ekadeyan, who was flanked by Chief Press Secretary to the Governor, Festus Ahon, described the 2024 proposed budget as “a people’s budget”, noting that it was based on a national exchange rate benchmark of N750 to one dollar.
Aside attention to infrastructural projects, massive urbanisation and various empowerment and job creation programmes, the Oborevwori administration will also support small scale businesses with single-digit loans and intensify healthcare delivery activities across the state, Ekedayen noted.
The commissioner said: “The budget size is N714.4 billion, broken down into capital and recurrent components of N397 billion capital, representing 56 per cent, while the recurrent component is N316 billion, representing 44 per cent.
“The budget was premised on the vision of the present administration and encompassing largely on the activities and programmes that will drive the M.O.R.E agenda.
“It is still a proposition because the House of Assembly will still have to look at it and approve at a later date. However, broadly speaking, it’s a budget that the people will be happy and proud of because a lot of impactful and developmental projects will be embarked upon.
“The people should expect new townships and massive road infrastructures, with emphasis on quality; people should also expect some new expansions in the healthcare institutions we have in the state.”
The state government will continue to fund small businesses across the state in 2024, he further said.
“We should also expect the government to support the small and medium scale enterprises in the state with some kind of funds to support their businesses, which would be given at single digit interest rate.
“Looking at other things, agriculture will get a boost, such as rice and food crops production. We are hoping that one of the ways to fight the ravaging inflation is to make food available. So, the agriculture ministry will be on its feet. Like I said, it’s a people’s budget”.
Omon-Julius Onabu
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