Delta State has proposed to spend N714.4 billion in 2024.
The commissioner for economic planning, Sonny Ekedayen, told journalists in Asaba that the proposal was part of decisions reached at the state’s executive council meeting presided over by Governor Sheriff Oborevwori on Wednesday.
He said the budget comprised N397 billion, or 56 per cent for capital expenditure and N316 billion, or 44 per cent for recurrent expenditure.
Mr Ekadeyan said the 2024 proposal was premised on an exchange rate of N750 to the dollar.
“The budget size is N714.4 billion, broken into capital and recurrent components of N397 billion for capital expenditure, representing 56 per cent, and recurrent components of N316 billion, representing 44 per cent.
“The budget is premised on the vision of the present administration, encompassing largely its activities and programmes.
“It is still a proposition because the House of Assembly will still have to look at it and approve it at a later date.
“Broadly speaking, it is a budget that the people will be happy and proud of because a lot of impact 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 expansions in healthcare institutions,’’ he said.
The commissioner added that the state government would continue to fund small businesses in the fiscal year.
“The government will support small and medium-scale enterprises with some kind of funding to support their businesses. The funds will be charged at a single-digit interest rate.
“Looking at other things, rice and other food crop production will get a boost.
“We are hoping that one of the ways to fight ravaging inflation is to make food available and affordable.
“It is actually a people’s budget,’’ Mr Ekadeyan said.
(NAN)
